Bunnings eyes acquisitions to lure tradie dollar
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Bunnings plans to build a trans-Tasman network of professional tool stores, flagging further bolt-on acquisitions to grab a bigger share of the home and commercial construction markets.
Bunnings managing director Michael Schneider has unveiled plans to open as many as 75 trade tools stores in Australia and New Zealand over the next three to five years – starting in Western Australia later this year – following its successful acquisition of Adelaide Tools almost two years ago.
Stores outside South Australia will not trade under the Adelaide Tools banner. Bunnings, which has recently lodged trademark applications for Benchmark Tools, Project Tools, Dontas Tools and Onya Tools, plans to reveal a new name in coming months.
ACCC review of Bunningsâ buy of Beaumont Tiles
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The Australian Competition and Consumer Commission (ACCC) has started a review into the proposed acquisition of Beaumont Tiles, the nationâs biggest tile retailer, by hardware giant Bunnings, and wants outside parties to make submissions on whether it might curb competition.
Bunnings, owned by ASX-listed Wesfarmers, announced the acquisition on April 28 and managing director Mike Schneider pledged to run Beaumont Tiles as a stand-alone operation. There are 115 Beaumont Tiles outlets nationwide. The ACCC said it would make a ruling on the acquisition on August 5.
Bunnings is already a substantial seller of tiles, and the ACCC wants to know if the acquisition of 115 Beaumont Tiles stores will curb competition. Â
The co-host of Channel 9 show Space Invaders said the average Australian bathroom renovation costs $20,000.
But Cherie managed to pull this one off in Sydney s inner west for $9,000 by keeping the existing layout of the room, painting the walls, direct stick tiling over the old tiles and updating the fixtures. You can save thousands by sticking with the same layout of your bathroom, Cherie told FEMAIL. I also think for every job you should get three quotes before you settle on one. With the shower screen installation in this bathroom, it would have cost $2,000 if I d have gone with the first quote. In fact, the owners ended up only paying $800.
Wesfarmers to resist price rises
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Wesfarmers will attempt to gain market share across its retail and industrial businesses by absorbing or offsetting rising costs rather than passing them onto consumers.
Prices for raw materials such as cotton, products such as lumber, and the cost of shipping containers has soared amid booming global demand, but Wesfarmers chief executive Rob Scott said the conglomerate would do what it could to avoid raising prices.
CEO Rob Scott: “When cost prices go up, Wesfarmers’ businesses do everything they can to keep prices down because that’s what our customers depend on us for.”