The takeover is part of Home’s growth strategy to expand its footprint in the trade industry.
James Aylen, GM Home Timber & Hardware Group, said the acquisition is an opportunity to strengthen the group’s core trade offer in the key market of Canberra.
“FAW is an ideal fit with our trade business model and will establish a strong trade hub in Canberra to complement our existing retail and trade offer at nearby Home stores, in Gungahlin, Phillip and Queanbeyan,” Aylen said.
“FAW have built a remarkable reputation in servicing trade and volume builder customers and we look forward to working with the team to integrate the business into the group and introducing enhanced range and value to FAW’s customer base.
“It marks another important venture for our business as we enter 2014 with a record 282 stores in the group, an increase of more than 30 per cent in two years.”
All employees, including senior management, will be offered ongoing employment as part of the agreement.