Angus & Coote
Angus & Coote is an Australian jewellery chain founded in Sydney in 1895 and listed on the ASX in 1952. The retailer claims to be a leader in Australia for high quality jewellery, with its 300 stores having a 20% market share as of early 2007.
In March 2007, James Pascoe Group completed a $A76m takeover bid for the Angus & Coote chain, including brands Amies in Queensland, Dunklings in Victoria and Edments in South Australia and Western Australia and Goldmark. The Goldmark and Edments brands were part of Prouds The Jewellers, with Angus & Coote acquiring them in 1996 when JPG purchased the main Prouds brand. At the time of the purchase, David Norman suggested one or more of newly acquired Angus & Coote brands could be launched in New Zealand. Goldmark is now included as a store-within-a-store at kiosks in selected Farmer stores.
The original owners of Angus & Coote, the Coote family, had owned the business for one hundred and twelve years before the sale, and became one of the most elite families in Australia, becoming a household name in Australia. The founder, Edmund James Coote with a net worth of $2B, passed the business down to his son Roy Rundle Coote. The business became extremely well-known and made it through international names. The last CEO from the family was Antony Edmund Rundle Coote, who expanded the business throughout the 70s-90s. They sold the company for $77M.