Metcash Limited (ASX:MTS) Merges Hardware Divisions
Operational Merger
Metcash Limited (ASX:MTS) announced the merger of its Independent Hardware Group and Total Tools Holdings to form the Total Tools and Hardware Group. The combined unit will include well-known brands such as Mitre 10, Home Hardware, and Total Tools, under the leadership of Scott Marshall.
Executive Comments
Metcash Group CEO Doug Jones stated, “Merging IHG and Total Tools Holdings has been part of our medium to longer term considerations since the acquisition of Total Tools in 2020. The creation of an even stronger and more resilient hardware business now is important not only in the context of current market conditions, but also for ensuring the business and our independent members and franchisees are ideally positioned to maximise the benefits from the anticipated market improvement.” “Combining the two businesses underpins our commitment to maximise the opportunities for profitable growth in the sector.”
Leadership Changes
As a result of the merger, Richard Murray, CEO of Total Tools Holdings, will leave Metcash to pursue other opportunities. He will assist with a smooth handover.
Financial Performance
Metcash’s FY25 financial results for the year ended 30 April 2025 are under audit, with underlying profit after tax expected to slightly exceed market consensus. Based on unaudited results, underlying profit after tax is projected between $273m and $277m. Full audited financial statements will be released on Monday, 23 June 2025.
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.
