Metcash’s Purchase of Home Timber & Hardware Makes Strategic Sense
Metcash will acquire the 1200 strong retail network of Home Timber and Hardware group from Woolworths for AUD 165 million equating to an underlying EBITDA multiple of 7 before synergies and release of working capital. The acquisition in our view makes strategic sense because when combined with Metcash’s existing hardware retail businesses Mitre 10 and True Value Hardware, the combined group will have turnover of about AUD 2 billion and a network of around 1800 stores. It will be the number-two p...Metcash is a wholesaler and distributor, supplying and supporting independent retailers across the food, grocery, liquor and hardware industries. Co.'s reportable segments are as follows: Food and Grocery, which comprises the distribution of dry grocery, perishable and general merchandise supplies to retail outlets; Liquor, which comprises the distribution of liquor products to retail outlets and hotels; as well as Hardware, which comprises the distribution of hardware supplies to retail outlets and trade customers.
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