BUNNINGS TO BUY BEAUMONT TILES
HARDWARE giant Bunnings has agreed to acquire the country’s biggest tile retailer, Beaumont Tiles, for an undisclosed sum.
The deal, announced on Wednesday, is subject to conditions including ACCC and regulatory approvals.
Under the terms of the deal, the Beaumont brand and business would remain “separate and distinct”. From its Adelaide headquarters, Beaumont operates 117 stores nationally, with turnover, including franchise outlets, of about $270m.
While Bunnings carries a range of tile products in its warehouses, managing director Mike Schneider said Beaumont, which services both trade and consumer customers, offered specialised products and services that were not able to be offered through the Bunnings warehouse format.
“Beaumont Tiles has a strong management team in place and operates in a large, competitive category that has the opportunity for strong growth,” he said.
“The acquisition represents an opportunity to build on the success of the Beaumont Tiles business and invest in its future growth.”
Greeting card and travel goods retailer R.J. Beaumont established Beaumont Tiles in 1960, after struggling to source quality tiles for his own house.
Under the leadership of his son Bob, the company has become one of the country’s most successful familyowned businesses.
Bob Beaumont, the company’s executive chairman, said it was time to retire after 53 years in the business.
“I knew that it would never be an easy thing to do, and it’s been a tough decision, but the board and I recognised the need for us to make way for a younger team,” he said.
Beaumont and its franchise network employ about 900 people.