Bunnings has entered into an agreement to buy up Beaumont Tiles, following its recent acquisition of Adelaide Tools, in an effort to extend its expertise into new areas of the DIY and homewares market.
The acquisition is still subject to regulatory approval, but should it go through it will see the business’ management team remain in place to continue it’s 61-year history, according to Bunnings’ managing director Mike Schneider.
“Beaumont Tiles has a strong management team in place and operates in a large, competitive category that has the opportunity for strong growth,” Schneider said.
“The acquisition represents an opportunity to build on the success of the Beaumont Tiles business and invest in its future growth, [which] services both trade and consumer customers and has a specialised product and service capability that is not able to be offered through the Bunnings Warehouse format.”
The tile specialist operates 115 locations across Australia. Beaumont Tiles executive chairman Bob Beaumont will retire following the acquisition, bringing his 53-year career to an end.
“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,” Beaumont said
“What made the decision easier, was knowing the brand and business we worked so hard to build from scratch would be placed in the best possible position for on-going success and growth and I’m really thrilled at the outcome for Beaumonts.
“Our family signed a contract to sell the business to Bunnings, as they understand our brand and culture, and will look after our extended Beaumont family including our franchisees and our teams.”