Mitre 10
Encyclopedia
Mitre 10 is the trading name of retail and trade hardware
store chains, over 700 locations throughout of Australia. Operations are based on a co-operative system where the store owners are members of the national group and each has voting rights. The chain name references the mitre joint, but was inspired by the Mitre Tavern in Melbourne.
The move to set up a co-operative group of hardware stores, originated from a meeting held in Victoria
, June 1959, with five men who would become Mitre 10's founding fathers — Tom Molomby, Tom Danaher, Reg Buchanan, Jack Womersley and Ian Nisbet. The meeting was held in the Mitre Tavern, and the group eventually hoped to build things up to ten stores, so they decided to call the company Mitre 10. This move occurred specifically to maximise funds and energy with regards to advertising and promotions and to demonstrate that independent operators offered service, advice and competitive prices.
The new company soon expanded operations, with fifteen New South Wales
members joining the group by February 1961. Queensland soon followed with seven retailers, under the chairmanship of Arthur Scurr, joining the cooperative in January 1962, followed by a further sixteen members from Newcastle
in October the same year. With the company successfully operational in the three Eastern states by the end of 1962 and South Australia and Western Australia soon running their own state based co-operatives, attentions turned to crossing the Tasman
.
In June 2004 Mitre 10 Australia opened its first "destination hardware, or "Big-box" chain at Beenleigh, Queensland.
In late 2008 Woolworths Limited
and Mitre 10 Australia were in talks of to acquire the company. The Australian Financial Review reported Mitre 10 Australia had held talks with other companies since beginning to find a major buyer or investor, although in early 2009 Woolworths decided the company structure was too complex for a takeover. Mitre 10 Australia is believed to be in talks with Metcash Trading, supplier of IGA
and various liquor stores, analysts say Metcash had been on lookout for a ‘fourth pillar’ for some time to add to its operations, and that Mitre 10 may be perfect.
In late 2009 Mitre 10 Australia announced that they were searching for a major investment or buyer, on 27 November, Metcash released a statement to the ASX
with a proposal for Metcash to take 50.1% in the Mitre 10 Hardware Group for A$55 million cash injection. Mitre 10 Australia members will vote on March 2010, the deal will give Metcash the right to buy the remaining 49.9% in the company at the end of 2013 or 2013 with an amount based on the earnings. Mitre 10 Australia will remain a standalone entity headed by Mark Burrowes. In March 2010 98% of Mitre 10 Australia shareholders voted in favour of the Metcash bid.
. The main focus of the Mega is customer service, it markets itself as "All the help you need", stores have customer service attendants stationed in different departments of the store i.e., plumbing, trade building supplies (timber), paint, the majority of these have a trade qualification. Mitre 10 Australia opened its first Mega in June 2004 at Beenleigh, Queensland.
In 2007 seven Mega stores operated across Australia, one in Queensland, one in South Australia and five in Victoria
, Mitre 10 Australia originally had planned to have 50 MEGA stores open, or have store owners renovate from other store types, across the country in metropolitan and regional hubs by the end of 2009. As at August 2009 three stores have closed. The Ringwood, Victoria
store closed due to financial difficulty, with the store employing over 130 people, while the Campbellfield, Victoria
store was closed in March 2009 due to the building having structural problems, the store employed 54 people, with the closure staff were redeployed to other stores. The Modbury, South Australia Mega store was bought by Wesfarmer's
Bunnings Warehouse in January 2007, the store employed 100 people. Hardy's Mitre 10 Mega in Pakenham, Victoria
being the only store redeveloped from a smaller Mitre 10 Home and Trade store, still trading, with plans to expand. The Mega store in Lilydale, Victoria closed in late 2009, being the last Mitre 10 Australia corporate store. Three privately owned Mega stores are still operating in Australia, one in Beenleigh, Queensland
, Pakenham, Victoria, and Chelsea Heights, Victoria
.
Builders hardware
Builders' hardware, or just builders hardware, is a group of metal hardware specifically used for protection, decoration, and convenience in buildings. Building products do not make any part of a building, rather they support them and make them work. It usually supports fixtures like windows,...
store chains, over 700 locations throughout of Australia. Operations are based on a co-operative system where the store owners are members of the national group and each has voting rights. The chain name references the mitre joint, but was inspired by the Mitre Tavern in Melbourne.
History
Victoria (Australia)
Victoria is the second most populous state in Australia. Geographically the smallest mainland state, Victoria is bordered by New South Wales, South Australia, and Tasmania on Boundary Islet to the north, west and south respectively....
, June 1959, with five men who would become Mitre 10's founding fathers — Tom Molomby, Tom Danaher, Reg Buchanan, Jack Womersley and Ian Nisbet. The meeting was held in the Mitre Tavern, and the group eventually hoped to build things up to ten stores, so they decided to call the company Mitre 10. This move occurred specifically to maximise funds and energy with regards to advertising and promotions and to demonstrate that independent operators offered service, advice and competitive prices.
The new company soon expanded operations, with fifteen New South Wales
New South Wales
New South Wales is a state of :Australia, located in the east of the country. It is bordered by Queensland, Victoria and South Australia to the north, south and west respectively. To the east, the state is bordered by the Tasman Sea, which forms part of the Pacific Ocean. New South Wales...
members joining the group by February 1961. Queensland soon followed with seven retailers, under the chairmanship of Arthur Scurr, joining the cooperative in January 1962, followed by a further sixteen members from Newcastle
Newcastle, New South Wales
The Newcastle metropolitan area is the second most populated area in the Australian state of New South Wales and includes most of the Newcastle and Lake Macquarie Local Government Areas...
in October the same year. With the company successfully operational in the three Eastern states by the end of 1962 and South Australia and Western Australia soon running their own state based co-operatives, attentions turned to crossing the Tasman
Tasman Sea
The Tasman Sea is the large body of water between Australia and New Zealand, approximately across. It extends 2,800 km from north to south. It is a south-western segment of the South Pacific Ocean. The sea was named after the Dutch explorer Abel Janszoon Tasman, the first recorded European...
.
In June 2004 Mitre 10 Australia opened its first "destination hardware, or "Big-box" chain at Beenleigh, Queensland.
In late 2008 Woolworths Limited
Woolworths Limited
Woolworths Limited is a major Australian company with extensive retail interest throughout Australia and New Zealand. It is the:* largest retail company in Australia and New Zealand by market capitalisation and sales...
and Mitre 10 Australia were in talks of to acquire the company. The Australian Financial Review reported Mitre 10 Australia had held talks with other companies since beginning to find a major buyer or investor, although in early 2009 Woolworths decided the company structure was too complex for a takeover. Mitre 10 Australia is believed to be in talks with Metcash Trading, supplier of IGA
IGA (Australian supermarket group)
Independent Grocers of Australia, or IGA, is a chain of independent supermarkets in Australia. It is the local variant of the international Independent Grocers Association...
and various liquor stores, analysts say Metcash had been on lookout for a ‘fourth pillar’ for some time to add to its operations, and that Mitre 10 may be perfect.
In late 2009 Mitre 10 Australia announced that they were searching for a major investment or buyer, on 27 November, Metcash released a statement to the ASX
ASX
ASX may refer to:* Australian Securities Exchange, the primary stock exchange of Australia* Advanced Stream Redirector, a computer file format listing Windows Media files * Armstrong Siddeley ASX, a British experimental turbojet* John F...
with a proposal for Metcash to take 50.1% in the Mitre 10 Hardware Group for A$55 million cash injection. Mitre 10 Australia members will vote on March 2010, the deal will give Metcash the right to buy the remaining 49.9% in the company at the end of 2013 or 2013 with an amount based on the earnings. Mitre 10 Australia will remain a standalone entity headed by Mark Burrowes. In March 2010 98% of Mitre 10 Australia shareholders voted in favour of the Metcash bid.
Store types
Mega is Mitre 10's "destination hardware, or "big-box" chain designed as a one stop shop for big projects, to compete with Bunnings WarehouseBunnings Warehouse
Bunnings Warehouse is Australia's largest hardware chain with stores in Australia and New Zealand. The chain is owned by Wesfarmers Limited.-History:-Pre 1900s:...
. The main focus of the Mega is customer service, it markets itself as "All the help you need", stores have customer service attendants stationed in different departments of the store i.e., plumbing, trade building supplies (timber), paint, the majority of these have a trade qualification. Mitre 10 Australia opened its first Mega in June 2004 at Beenleigh, Queensland.
In 2007 seven Mega stores operated across Australia, one in Queensland, one in South Australia and five in Victoria
Victoria (Australia)
Victoria is the second most populous state in Australia. Geographically the smallest mainland state, Victoria is bordered by New South Wales, South Australia, and Tasmania on Boundary Islet to the north, west and south respectively....
, Mitre 10 Australia originally had planned to have 50 MEGA stores open, or have store owners renovate from other store types, across the country in metropolitan and regional hubs by the end of 2009. As at August 2009 three stores have closed. The Ringwood, Victoria
Ringwood, Victoria
Ringwood is a suburb in Melbourne, Victoria, Australia, east of Melbourne's central business district. Its Local Government Area is the City of Maroondah. At the 2006 Census, Ringwood had a population of 15,185....
store closed due to financial difficulty, with the store employing over 130 people, while the Campbellfield, Victoria
Campbellfield, Victoria
Campbellfield is a suburb in Melbourne, Victoria, Australia, 16 km north from Melbourne's central business district. Its Local Government Area is the City of Hume. At the 2006 Census, Campbellfield had a population of 5,401.-History:...
store was closed in March 2009 due to the building having structural problems, the store employed 54 people, with the closure staff were redeployed to other stores. The Modbury, South Australia Mega store was bought by Wesfarmer's
Wesfarmers
Wesfarmers Limited is one of Australia’s largest public companies and one of Australia's largest retailers. Its headquarters are in Perth, Western Australia....
Bunnings Warehouse in January 2007, the store employed 100 people. Hardy's Mitre 10 Mega in Pakenham, Victoria
Pakenham, Victoria
Pakenham is a satellite suburb of Melbourne on the edge of the West Gippsland region of Victoria, Australia, south-east from Melbourne's central business district. Its Local Government Area is Cardinia Shire. At the 2006 Census, Pakenham had a population of 19,644...
being the only store redeveloped from a smaller Mitre 10 Home and Trade store, still trading, with plans to expand. The Mega store in Lilydale, Victoria closed in late 2009, being the last Mitre 10 Australia corporate store. Three privately owned Mega stores are still operating in Australia, one in Beenleigh, Queensland
Beenleigh, Queensland
Beenleigh is a suburb in the Logan City area of Queensland, Australia. Beenleigh and adjoining suburbs are located near the confluence of the Logan and Albert rivers...
, Pakenham, Victoria, and Chelsea Heights, Victoria
Chelsea Heights, Victoria
Chelsea Heights is a suburb in Melbourne, Victoria, Australia, 30 km south-east from Melbourne's central business district. Its Local Government Area is the City of Kingston...
.