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/PRNewswire/ -- DealerShop, based in Bloomfield Hills, Michigan, and Resilience Capital Partners, a Cleveland-based private equity firm, announced today that...
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...
Advertisement The COVID-19 building boom What Quadrant couldnât have seen in March 2020, arguably the peak of the pandemic panic, was how COVID-19 would unleash a boom in building and renovations sparked by the combination of government incentives, stimulus payments and border restrictions, which saw spending on holidays channelled into home. The 24.7 per cent increased in hardware sales at Metcash, which includes sales at Mitre 10 and Home Timber & Hardware, speaks to the power of this boom. Even excluding Total Tools, sales rose 17.8 per cent. But Metcash and its great rival, the Wesfa...