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Childcare company Harmony Early Learning Journey has announced the acquisition of another early learning centre in its native Gold Coast, purchasing Varsity Lakes-based All About Kids for an undisclosed sum.
This represents the second acquisition in 10 months for Harmony, the last being the September 2022 purchase of a location in Bahrs Scrub - a suburb in the corridor between the Gold Coast and Brisbane.
The group now has 14 centres in its network, predominantly within Southeast Queensland but also with two locations in Northern New South Wales in Bangalow and Lennox Head. A further four sites are in development.
Harmony is set to officially take over operations from 24 July and will maintain open lines of communication to ensure all relevant information and updates are shared with the local community.
"The acquisition of All About Kids reflects our commitment to providing exceptional and holistic educational opportunities for children, while expanding our vision to nurture and empower future generations," says Harmony CEO Laurie Begni, who has led the Hope Island-headquartered group since March.
"We understand the importance of maintaining the trust and strong relationships previously cultivated and we’ve structured the transition to ensure a seamless process for children, families and staff members.
"Families can expect Harmony to infuse our evidence-based curriculum, holistic teaching and state-of-the-art technologies into the existing framework of this new centre."
He says the company has an established set of criteria that must be met before an acquisition can be made, noting any prospective centres must be complementary to the already established Harmony model and aesthetic.
Begni notes recent changes to the Child Care Subsidy (CSS), which increase the Commonwealth Government's support from 85 per cent to 90 per cent for families earning less than $80,000 a year, are likely to impact the compsition of Harmony's customer base.
"The recently issued ACCC Childcare Inquiry Interim Report reveals that location and availability are the primary drivers for parents choosing a centre for their child, but within that, CCS increases means that our consumer base within those geographic territories is broadening," he says.
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