Business
Hardware giant Bunnings buys Beaumont Tiles – The Australian Financial Review
The Wesfarmers-owned hardware giant is snapping up Australia’s largest tile retailer, which runs 115 retail stores.
He said there were opportunities for strong growth in the segment. Home renovations are booming in the COVID-19 pandemic with overseas travel off the agenda and ultra-low interest rates fuelling spending on houses and apartments.
Bunnings sales rose a staggering 24 per cent to $9.1 billion in the six months ended December 31, with same-store sales climbing almost 25 per cent, while earnings jumped 36 per cent to $1.3 billion.
Beaumont Tiles executive chairman Bob Beaumont said the sale to an Australian…
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