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METCASH LIMITED — M&A Activity 2012
Jul 30, 2012
65384_rns_2012-07-30_f9316f8f-f7d8-4450-94a2-2900319e2604.pdf
M&A Activity
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Metcash Limited ABN 32 112 073 480 50 Waterloo Road Macquarie Park NSW 2113 Australia
31 July 2012
PO Box 6226 Silverwater Business Centre NSW 1811 Australia Ph: 61 2 9751 8200 Fax: 61 2 9741 3027
Media Release
METCASH ACQUIRES 100% OWNERSHIP OF MITRE 10
Further to its announcement dated 20 June 2012, Metcash Limited (Metcash) today announced that it had acquired 100% ownership of the Mitre 10 Group.
Metcash paid approximately $46.5 million to move from 50.1% ownership to 100% ownership.
CEO of Metcash, Mr Andrew Reitzer, said he was delighted to have acquired the balance of Mitre 10. “Mitre 10 has proven to be a highly strategic and value adding business pillar for Metcash. The acquisition will provide an enhanced ability for Metcash to leverage its proven merchandising and brand management skills and world class logistics capability into the hardware sector.
“Mitre 10 is the last true independent hardware group. Metcash is pleased to stand behind their commitment to delivering ‘Mighty Helpful’ service to their customers by offering the best products and advice,” he added.
It is just over two years since Metcash acquired its initial 50.1% stake. In that time the Mitre 10 Group has reorganised its operations and grown its network across Australia.
For further information, call:
Andrew Reitzer Metcash Limited (02) 9741 3060
Tim Allerton City Public Relations (02) 9267 4511 0412 715 707