Metcash has announced the creation of the Total Tools and Hardware Group – a merged entity of its Independent Hardware Group and Total Tools Holdings entities.
Metcash has announced the creation of the Total Tools and Hardware Group – a merged entity of its Independent Hardware Group and Total Tools Holdings entities.
In a statement to the market on Tuesday, Metcash said the move would position the company with “a clear operating model” for its hardware division, alongside its food and liquor portfolios.
Some of Metcash’s well-known brands within its hardware portfolio include Home Hardware, Mitre 10 and Total Tools.
Scott Marshall, who is presently the chief executive of Independent Hardware Group, will assume leadership duties of the merged entity.
As a result, Total Tools CEO Richard Murray will depart from Metcash.
Previously, Mr Marshall has also been CEO of Metcash’s food and liquor portfolios. In recent times, he also led Reece Australasia, a leading plumbing and bathroom supplier.
“Merging IHG and Total Tools Holdings has been part of our medium to longer term considerations since the acquisition of Total Tools in 2020,” Metcash Group CEO Doug Jones said.
“The creation of an even stronger and more resilient hardware business now is important not only in the context of current market conditions, but also for ensuring the business and our independent members and franchisees are ideally positioned to maximise the benefits from the anticipated market improvement.
“Combining the two businesses underpins our commitment to maximise the opportunities for
profitable growth in the sector.”
Metcash also provided an update to the market in relation to its unaudited financial results up to April 30, advising its FY25 underlying net profit after tax range of $273-277 million, would be slightly higher than expected by the market should it eventuate.
As of 8.26am AWST, Metcash shares were up 4 per cent to $3.54.
