ABC Learning group is sold to charities syndicate
The bankrupt Australian nursery group ABC Learning, once the largest in the world, has been sold to a syndicate made up of not-for-profit organisations.
GoodStart has bought 678 ABC nurseries from the company's receivers, McGrathNicol.
It has been set up by Social Ventures Australia, which includes Mission Australia, the Benevolent Society and the Brotherhood of St Lawrence. The charities have a combined history of 420 years' experience in running welfare services, including childcare.
The centres will continue to be run under the ABC Learning brand.
GoodStart spokesperson Maree Walk said the company would operate the centres to the highest standards of education and care, with financial surpluses reinvested into programmes that improve childcare access and quality.
'The organisations behind GoodStart's purchase of ABC Learning are stable and respected, with a proven track record of professionalism, integrity, and a focus on the needs of children and families,' she said.
