Last week, we ran an article on the de-registration by ASIC of Reacon Holdings Pty Ltd. We have since been contacted by various parties including ex-employees and suppliers, concerned at the confusing landscape of multiple companies, winding-ups and deregistrations.
Reacon Group/mmw3degrees office is now at 1 Homebush Bay Dr. Rhodes. Production is now at Regent's Park and Hume, Canberra..
Modern business can be a complex landscape of trading operations, holding companies, Trusts and partnerships but, increasingly, ASIC sees transparency as a desireable asset to enable employees and creditors to know exactly who they are doing business with.
When investigating Reacon Holdings, we have discovered three Reacon companies, several trading names and a Unit Trust that appears to have control. Here is a list of the status currently in the public domain:
Reacon Holdings Pty Ltd - De-registered by ASIC on 2nd September 2024. Formerly known as Bridgestone Investments Pty Ltd.
Reacon Australia Pty Ltd - Application to wind-up lodged on 6th February 2025. Winding up can not be completed until all debts are paid off.
Reacon Group Pty Ltd - Registered and trading, although ASIC reports not registered for GST. Website advises that it has branches in Sydney, Canberra, Melbourne, Auckland, Malaysia, Thailand, Hong Kong and Philippines and 150 employees, although 5 listed and photographed under 'Leadership Team' have since left the company
Acquired companies:
Populus - a creative studio was acquired in 2020.
Horizon Print Management - a print procurement company was acquired in 2018, name changed to Reacon Australia Pty Ltd..
Copiworld - a commericial print manufacturer was acquired in 2018.
Indigoprint - a commercial print and point of sale manufacturer was acquired in 2018.
Digitalpress - a commercial print manufacturer was acquired in 2019 from Theo Pettaras.
Code Crowd a data technology and integrations specialist was acquired in 2020.
MMW3Degrees - a data driven communications provider, formerly Mail Marketing Works, was acquired in 2023.
National Mail & Marketing - Hume, Canberra acquired 2024 but apparently operating independently.
Winding up of Reacon Australia Pty Ltd
The application to wind up Reacon Australia Pty Ltd (ACN: 158922242) was on behalf of: "CTRL Print Pty Ltd as Trustee for CTRL Print Management Unit Trust" - a company who alleges that the debt relates to trading with Reacon..
Staff and creditors owed money
It seems clear that the Reacon organisation is undergoing some kind of restructuring but former staff who have contacted us claim there is unpaid superannuation and entitlements. Creditors are certainly owed overdue monies, and possibly the ATO as well. One former staff member commented "We were never really sure which Reacon or affiliated company we were employed by- we would be paid, often late, by one of the entities." Redundancy entitlements were questioned or bargained down when people left.
On the supply side, a trade printer is presently owed over $100,000 and a supplier over $220,000.
The issue of the super-high volume Fujifilm JetPress 1160CF ordered by Reacon Group with much fanfare at drupa 2024 deepens the mystery. It's not in North Sydney, not at Rhodes and not at Regent's Park. (Note, we have it now confirmed that the Jetpress 1160CF is installed at Regent's Park.)
Businesses are entitled to have secrets but in this day and age, transparency and accountability are also essential attributes.
Andy McCourt
