Source: Inside Retail Metcash has announced it is upping its stake in Total Tools, from 70% to 85%, at a cost of $59.4 million. The decision comes as the tools business saw impressive growth since Metcash took its initial stake last September, with Total Tools’ earnings before tax and interest (EBIT) for the eight months to 30 April 2021 hitting $24 million. And, in order to speed up and facilitate the business’ growth plans — which include an expansion of its store network — Metcash has increased its debt facility to Total Tools from $40 million to $65 million. Metcash still looks to have complete ownership of Total Tools towards the end of FY24.