Stuart Nicolson launches the Retirement Alliance brand to create distance from Becton Property Group as it sinks into limited receivership

With six predominantly prestige and big retirement villages [1,010 ILU’s] co-branded with Becton Property Group under his control, Becton Living CEO Stuart Nicolson has been watching in alarm as Becton Property Group has slid towards receivership over two years. It finally happened on Tuesday when US investment bank Goldman Sachs and vulture fund Fortress Investment Group moved in and appointed a limited receiver to Becton Property Group. Nicolson’s Becton Living is a financially independent private company which over 4 to 5 years has had its shareholding increasingly taken over by the Oman Investment Fund [a sovereign investment fund of the Oman government].
Being a seasoned marketer from the packaged goods industry Nicolson was prepared and the day before the receivership [on Monday] he officially launched a new brand – Retirement Alliance – to replace the Becton Living brand. This was immediately communicated with residents and suppliers along with confirmation that Becton Property Group had no security over the retirement village operation and is now just a minority shareholder.
Last November the Omani’s built on its existing investment in the retirement village group by providing an additional $40 million in funding, with ANZ providing a further $37 million. The new Retirement Alliance now has net tangible assets of $80 million and strong profits, thanks to good sales and 98% occupancy. And after 15 years, true independence from the Becton brand.