skip to main content
  • *
  • *
Find Insight DIY on
* * *

International DIY News

Metcash Preparing Offer For Specialist Tool Retailer

Mitre 10 video Sept 2019 725 x 501.jpg

Metcash, the owner of the Australian DIY chain Mitre 10, is understood to be working on a bid for a specialist tool retailer, Total Tools, as it looks to move into the specialist hardware market.

Established more than thirty years ago, Total Tools is Australia's largest trade and industrial tool retailer, offering over 60,000 product lines though its franchise stores and a transactional website.  In 2018, the business was thought to be looking into the possibility of listing on the Australian Stock Exchange, but decided not to go ahead.  

An acquisition would help Mitre 10 compete with Bunnings, which recently announced the planned acquisition of Adelaide Tools.  Metcash merged the Mitre 10 and Home Timber & Hardware businesses in late 2016, creating a network with the capability of challenging the Bunnings behemoth. 

Miles Advisory is running an auction on behalf of the Total Tools' franchise owners, who each own 5% or less of the business.  Other interested parties are understood to include a private equity firm.

A deal of around ten times the retailer's $25m earnings is expected.

Source : Insight DIY Team

For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter. 

10 December 2019

Related News

view more International DIY News
*

Insight DIY always publishes the latest news stories before anyone else and we find it to be an invaluable source of customer and market information.

*
Max Crosby Browne - CEO, Home Decor
Newsletters

Don't miss out on all the latest, breaking news from the DIY industry