The New Zealand based clothing and homewares sites operates online, catalogues and contact centres across ANZ.
Woolies CEO Grant O Brien said the move was part of its move to grow the multichannels, saying the retail mammoth was "very impressed" with the calibre of EziBuy's business, admitting "we can learn a lot from each other."
"Direct to consumer retail is a critical part of the multi channel option" he said in a statement. Woolworths is also seeking to learn from EziBuy's direct-to-customer logistics at Palmerston North and apply these learnings across its business.
Ezibuy, with over half a million customers across ANZ has a history of profitable growth, recording over NZ$200 million sales over the past financial year.
The transaction is worth around $350m. Ezibuy is owned by founding shareholders Peter and Gerard Gillespie and Catalyst Investment Managers.