Home Timber and Hardware |
Home Timber & Hardware is the home of big brands expert advice and top-notch service.
Were a diverse and growing hybrid business with both a wholesale and retail arm to our business serviced by a broad mix of independently owned-and-operated businesses and company-owned sites.
Our groups buying power comes from our national reach of over 350 stores that operate under the retail banners Home Timber & Hardware Thrifty-Link Hardware and Hardings Hardware. More than 80 per cent of our sites are regionally based which means were in local communities and townships across Australia.
Decades of experience in retail hardware has cemented our position as the home building specialist to the tradesperson and serious renovator and this continues to form the backbone of who we are today. So if youre serious about hardware...Go Where the Tradies Go.
GO WHERE THE TRADIES GO
It embodies our long-standing strengths in servicing the trade market. Its about owning what were good at - the place that understands the trade and is serious about meeting the demands of your business. A place where you can get in get out and back to site in no time.
And its our vast trade retailing experience that gives us the credibility and know-how to meet the needs of our DIY customer too.
BIG BRANDS
We have the right range to tackle all the hard jobs. From plan take-off to supply (and everything in between) you can count on us to be your one-stop centre for all timber building supplies hardware tools paint adhesives and outdoor home-building needs. And more.
Each of our stores are unique in the products they stock but one thing you can count on in every store is that youll get quality brands at the right prices.
EXPERT ADVICE
Our experienced and passionate staff have the in-depth knowledge for advice on projects inside or outside the home. Many of our team come from trades background themselves which means you get trusted tips and the right solutions first time.
TOP-NOTCH SERVICE
We pride ourselves on our unmatched level of customer service. When you deal with Home Timber & Hardware you know that youll always be greeted with friendly personal service. Its why we've been crowned Hardware Store of the Year three times in four years in Roy Morgans Customer Satisfaction Awards.
Were serious about service and delivering on your needs in full on time every time.
hardware store of the year award
OUR HISTORY
In March 1993 and with a bold turquoise and orange identity Home Timber & Hardware was launched as the result of a merger between Home Saver Timber & Hardware and Homestead Hardware.
Since then Home Timber & Hardware has grown into an iconic national retailer with formidable expertise in buying construction and industry knowledge.
And still along for the ride is our two loveable canine buddies Rusty and Sandy who became same about when the brand was formed in 1993 and continue in their dog ambassador roles to this day.
Updates
Woolworths has confirmed it will close all the stores of its failed home-improvement chain Masters in December 2016 with jobs to go.
It is another major step in Woolworths humiliating retreat from the $45 billion home improvement market with it also revealing the sale of its Home Timber and Hardware business to smaller rival Metcash.
A consortium made up of an aged care provider Aurrum the Spotlight Group and Chemist Warehouse have agreed to buy the 82 Masters sites if Woolworths US-based joint venture partner Lowes agrees.
Inventory from the Masters stores will be sold down by inventory divestment specialist Great American Group over the next couple or months.
All up the hardware firesale is expected to net just $500 million for Woolworths well short of the billions of dollars the company has spent on the Masters folly.
With the property sales included Woolworths is expecting to recover about $1.5 billion from the failed venture.
"When I was appointed in February I said exiting the home improvement business was a top priority. Todays announcement delivers on that commitment"chief executive Brad Banducci said.
He said the sale process will deliver some certainty for the 7 staff employed in the home improvement area howe'ver many will lose their jobs with some to be deployed elsewhere in the Woolworths group.
SDA National Secretary Gerard Dwyer said the union had commenced discussions with Masters and Woolworths and would work closely with the company to secure employment where possible.
"This is a devastating announcement for some 6000 staff in light of recent improved trading and positive signals that some parties were interested in the business as a going concern"Mr Dwyer said.
"Well be working hard to ensure that Masters staff members are offered alternative employment to ease the impact this will have on them and their families."
Metcash to buy Home Timber and Hardware
Metcash will pay Woolworths $165 million in cash for 100 per cent of the Home business that Woolworths bought in 2009 for $88 million.
Home was the first plank in Woolworths attempt to take on Wesfarmers "big box"hardware champion Bunnings before scaling up its ambitions with the Masters brand in 2011.
The strategy has failed spectacularly with Woolworths expected to write off Masters as a discontinued business at a cost of $2.7 billion in its full-year results.
Woolworths - along with US joint venture partner and 30 per cent stakeholder Lowes - is still looking for a buyer for Masters.
In a statement to the ASX Metcash said the deal will be funded through a combination of $80 million in equity to be raised from institutional investors and $85 million in debt.
It was purchased at the fairly cheap multiple of seven-times earnings with deal adding scale to Metcashs existing Mitre 10 hardware business.
Metcash said Home will make money from the start forecasting it increase earnings per share by 4 per cent in the first full financial year.
The deal is expected to be completed in early October and will give Metcash a network of around 1800 hardware stores generating $2 billion in sales.
Metcash promises better deal for hardware customers
The Australian Competition and Consumer Commission gave a green light for the prospective deal in July clearing the way for the sale to go ahead.
Mitre 10 and Home have a strong focus on trade customers as opposed to the do-it-yourself market Masters chased.
Metcash chief executive Ian Morrice said both Mitre 10 and Home are passionate about supporting independent retailers.
"The increased scale together with the opportunity to realise significant efficiencies will enable us to be more competitive and deliver a better outcome for both our hardware retailers and their customers"Mr Morrice said.
Woolworths made little comment apart from advising the ASX of a trading halt.
"Woolworths is looking to exit the home improvement sector and we are unable to comment on the sale process that is currently in train"the company said in a statement.
Metcash said it would remain in a trading halt until Friday morning pending the completing of the equity raising.
❊ Web Links ❊
➼ Home Timber and Hardware
➼ www.homehardware.com.au
➼ Update Source: www.abc.net.au
❊ Also See.. ❊
➼ Mitre 10
Update Page
