K&D Acquires Brewster

K&D has acquired Brewster, the Tasmanian building supplies business, in a deal worth $7.8 million. K&D Managing Director Peter Geard said the acquisition continues Kemp & Denning’s strategy of building and improving its Tasmanian-owned and operated business.

“The amalgamation of K&D and Brewster will provide both operations with increased buying power, new skills, new markets and the ability to compete in Tasmania’s competitive hardware market,” he said. Brewster Managing Director David Richards said he was extremely confident that this was a good outcome for Brewster and its future in Tasmania. “With the ongoing consolidation in the retail timber and hardware sector, it is clear that only large or strong regional businesses will survive into the future.”

Brewster has served the Tasmanian building industry since 1927 and was sold to Malaysia’s Samling Global Ltd in 2008. “This is a significant move by K&D, buying a major Tasmanian-based asset from an international consortium,” said Geard. “It will also mean that the combined business benefits of K&D and Brewster will continue to stay in Tasmania, building our Tasmanian-owned and operated business and growing Tasmanian jobs. We believe K&D must continue to grow and develop its business across Tasmania and this is a great opportunity to further develop our trade business.” K&D now has outlets in Hobart, Glenorchy, Kingston and Cambridge, with its new K&D Warehouse Mitre 10 and K&D Trade Centre at the new Devonport Homemaker Centre starting construction in the first quarter of this year; K&D will own Brewster’s Hobart and Launceston operations.

K&D will employ more than 300 people from March 1, with another 40 to be employed in Devonport at the North West Homemaker Centre store. “We will continue to operate Brewster from its Campbell Street site in Hobart and move Brewster’s Launceston operations into a new, larger site in McKenzie Street, Invermay from March 1,” Geard said.