Danks Buys Tait

John Danks & Son has agreed to acquire the business and assets of Tait Timber and Hardware in Victoria. Completion of the acquisition will occur once contract conditions are met.

The acquisition includes two stores in Victoria, located in Tooronga and Somerville. As part of the acquisition, Danks will make offers to retain all employees of the Tait’s business, including the current management. The Tait’s stores will continue to trade under the Home Timber & Hardware banner.

Danks is a wholly owned business of the home Improvement joint venture between Woolworths Limited and Lowe’s Companies Inc, which it says is committed to building an integrated, multi-format offer. “The acquisition of the Tait Timber & Hardware business presented Danks with a unique opportunity to further expand our national network of retail and trade stores,” said Mark Burrowes, general manager of the Home Timber & Hardware group. “We intend to play an active role in the dynamic hardware and home improvement sector as we continue to deliver value, choice and service to our customers.”