Kidicorp is to purchase the 124 ABC childcare centres in New Zealand.
ABC centres in New Zealand were never in receivership, but the receivers of its Australian parent company have been trying to sell the subsidiary since late 2008, when it collapsed, owing $A1.6 billion.
The purchase will mean Kidicorp operates 230 centres nationwide, with 3500 staff and 15,000 children.
It is also buying the New Zealand College of Early Childhood Education in Christchurch.
Kidicorp won't disclose the purchase price, but says the new centres will effectively double the size of its business.
Managing director Wayne Wright says there are no plans to change the ABC brand or close centres, and the combined group will now represent about 8% of the early childcare education market.
The purchase should be complete on 28 October.
Kidicorp is based in Tauranga.
