Homewares giant Bunnings has finalised its buy up of Beaumont Tiles – a deal which brings the 61-year-old business under its leadership and gives Bunnings access to Beaumont Tiles’ trade expertise.
Beaumont Tiles’ chief executive Danny Casey said the business, which will continue to run independently under the deal, is excited to work under Bunnings’ leadership.
“The completion of the transaction gives the entire Beaumont Tiles team and our dedicated franchisees exciting new opportunities and we’re pleased our National Support Office will continue to be based in Adelaide,” said Casey.
“We know that with Bunnings’ backing, we are well placed to continue to innovate and evolve for ongoing success and growth.”
Mike Schneider, Bunnings’ group managing director, said the acquisition aims to help Bunnings focus on its builder and flooring trade customers, who will benefit from the brand’s knowledge and range.
“Beaumont Tiles has a strong management team in place and will continue to be run as a separate and distinct business, and we’re looking forward to investing in the company’s future growth,” Schneider said.
The acquisition was recently approved by the ACCC, which said that, despite first appearances, the deal wouldn’t impact competition in any meaningful way.
According to ACCC chair Rod Sims the deal isn’t a case of a close competitor buying up a rival. Bunnings doesn’t compete in the tiling market in any meaningful way, so buying up an expert in the field shouldn’t be seen as an attempt to monopolise the market, but to enter it.
Beaumont Tiles executive chairman Bob Beaumont will retire following the acquisition, bringing his 53-year career to an end.