Beaumont Tiles sells to Bunnings
Beaumont Tiles is set to sell its 115-store business to Bunnings, ending the Beaumont family’s six decade ownership of the national retail chain.
Bunnings MD Mike Schneider said Beaumont Tiles will remain distinct and separate from the hardware chain, following the example of the purchase of Adelaide Tools last year.
“The acquisition represents an opportunity to build on the success of the Beaumont Tiles business and invest in its future growth. Beaumont Tiles 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,” he said.
“Beaumont Tiles has a strong management team in place and operates in a large, competitive category that has the opportunity for strong growth.”
The current management team, led by CEO Danny Casey, will remain in place and the Beaumont Tiles national support office will continue to be based in Adelaide.
Bunnings’ acquisition, subject to conditions and regulatory approval, allows Beaumont Tiles executive chairman Bob Beaumont to step away from the business that has been family-owned for 61 years.
“After 53 years dedicated to a business that my dad started in South Australia, it’s time to retire. 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 Beaumont’s.
“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.
“The peace of mind in knowing Beaumont’s will only continue to grow and build is fantastic, and I look forward to watching that journey and of course spending more time with my wife Sue, my family and friends.”