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Vodafone Australia today announced that it has reached agreement to acquire from Patricia
Ilhan, her major stake in mobile phone retailer Crazy John’s, for between $150 and $200 million.
Russell Hewitt, Chief Executive Officer at Vodafone Australia, said: “Vodafone is very pleased to confirm that Crazy John’s will become a significant part of Vodafone’s ongoing business strategy. Crazy John’s is a dynamic company with innovative, high-value products and services that continue to be relevant and appealing to Australian customers.”
Patricia Ilhan, wife of Crazy John’s founder the late John Ilhan, said she was delighted by
today’s announcement from Vodafone because it ensures a strong future for Crazy John’s
and its loyal and valuable staff and customers.
“I am excited that Vodafone is enhancing its already successful commercial partnership with Crazy John’s by taking a major stake in the business,” said Patricia Ilhan. “Crazy John’s welcomes Vodafone’s decision to buy a major stake in the company because it represents the endorsement of the strongest global partner in the telecommunications industry to further
enhance the future growth of Crazy John’s. Vodafone, with its international network, can take Crazy John’s to the next level of growth and development.
“On a personal level I know that John was excited when he struck a commercial arrangement with Vodafone last year,” said Patricia Ilhan. “He knew he had found a dynamic partner for Crazy John’s to move forward. John’s belief has been vindicated in today’s announcement.”
John Ilhan was ranked first in Business Review Weekly’s Australia’s Young Rich List 2003, with a fortune of $200 million. In the 2007 Rich List, he came in as the 126th richest man in Australia with a fortune of $310 million.
