The recently, announced acquisition deal from the CFX retail chain worth $498 million; under which it will be taking hold of the four major retail outlets from the ailing Austexx Group.

While the deal also shows the change in the strategy of VFX, but the fact of the matter is that the company has previously been focusing on prime centres.

It is believed that the retail will buy out the DFO centres at Homebush in NSW and Essendon, Moorabbin and South Wharf in Victoria. In fact, South Wharf purchase is condition on CFX's JV partner i.e. the Plenary Group. It may be noted here that the intention is to get its hands to fund and increase its stake from 25% to 50%.

For the record, Austexx was founded by entrepreneurs David Goldberger and David Wieland.

According to the terms of the deal, CFX will not only get its hands on the properties but also the Australian DFO and Homemaker Hub brands and will be eying to expand the DFO portfolio within regions like Victoria, NSW, Western Australia and South Australia.