Karabus Management joins PricewaterhouseCoopers Canada

    TORONTO, Oct. 15 /CNW/ - PricewaterhouseCoopers (PwC) Canada announced
today that it has acquired leading retail advisory firm, Karabus Management.
The combination brings significant opportunities for both companies to expand
their retail consulting capabilities and assist retailers to improve their
business performance.
    Under the terms of the agreement, Karabus will become a wholly-owned
subsidiary of PwC and have access to PwC's significant resources and global
network to drive substantial future growth. Karabus will continue to be led by
its Founder and CEO, Antony Karabus, together with the entire Karabus senior
leadership team that has built its market-leading position in retail
performance improvement.
    While PwC will continue to develop and grow its existing client offerings
to retailers, Karabus will bring their specialized ability to help retailers
improve their profitability through key services including: merchandise
optimization, inventory and category management, store operations
effectiveness and cost efficiency, financial performance improvement,
turnaround services, retail IT effectiveness and strategy and supply chain
    Established in 1990, Karabus is singularly focused on helping retailers
improve their financial performance in a highly competitive retail
marketplace. Karabus employs approximately 50 retail specialists who are based
in more than 15 North American markets.
    "The uniqueness of the combined Karabus and PwC service offerings has
already created substantial benefits for both our firms and retailers," says
Chris Clark, PwC's Canadian Senior Partner and CEO. "We're delighted to have
Antony and the entire Karabus team join PwC to provide our retail clients with
this significant additional expertise."
    According to Antony Karabus, CEO of Karabus Management, "This
collaboration provides our firm with the resources and global reach needed to
allow us to capitalize on the substantial market opportunities in the retail
industry. The mutual respect developed over many years of working together
with PwC will take our firm to a new level and position us to provide
retailers with the most comprehensive solutions to drive improved operational
and financial performance."

    About PricewaterhouseCoopers


    PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance,
tax and advisory services to build public trust and enhance value for its
clients and their stakeholders. More than 154,000 people in 153 countries
across our network share their thinking, experience and solutions to develop
fresh perspectives and practical advice. In Canada, PricewaterhouseCoopers LLP
(www.pwc.com/ca) and its related entities have more than 5,200 partners and
staff in offices across the country.
    "PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP, an Ontario
limited liability partnership, or, as the context requires, the
PricewaterhouseCoopers global network or other member firms of the network,
each of which is a separate and independent legal entity.

    About Karabus Management

    Karabus Management (www.karabus.com) is a leading North American retail
advisory firm that helps retailers significantly improve their operational and
financial performance. The firm's 50 dedicated retail consultants work with
many of North America's leading retailers. For more information, please visit
the company's website at www.karabus.com.

For further information:

For further information: Nina Godard, PricewaterhouseCoopers LLP, (416)
941-8383 ext. 13520, nina.godard@ca.pwc.com; Melissa Jaffin, Berns
Communications Group, (212) 994-4660, mjaffin@bcg-pr.com

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