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Australia: Mitre 10 welcomes Metcash

Shareholders of Mitre 10, Australia’s retail and trade hardware store chain, have voted overwhelmingly in favour of a majority buy-in from grocery wholesaler Metcash, which has now set its sights on luring retailers from Woolworths’ recently acquired Danks hardware distribution business.

Metcash chief executive Andrew Reitzer said once the integration was complete, Mitre 10 would begin campaigning to recruit retailers currently served by Danks, the hardware distributor Woolworths bought last year as part of a joint venture with US hardware giant Lowe’s.

(Source: The Australian)