Whatever the motives for selling, i think the current valuation - at a forward P/E of ~15x, EV/EBITDA of ~8.5x and EV/EBIT of ~10.5x - is pretty attractive for a retailer which is the clear leader in its subcategory, and which can continue to sensibly deploy ~$40m p.a. to organically grow its earnings at a high single digit percentage pace.
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