Wesfarmers folds Blackwoods and Workwear under Bunnings
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The news: Retail conglomerate Wesfarmers is set to transfer its industrial and safety business Blackwoods and Workwear into Bunnings from 1 July, aiming to strengthen its customer value proposition, drive incremental sales, and unlock cost efficiencies.
The context: The company said the transition is expected to strengthen Bunnings’ position in the small and medium-sized business market, while retaining Blackwoods and Workwear Group as standalone brands.
Chief financial officer Anthony Gianotti said the move would provide an opportunity to leverage greater scale and capabilities to enhance customer experience.
Managing director of the industrial and safety business Tim Bult is also set to retire following the completion of the transition, after serving Wesfarmers since 1999.
The financial contribution of Blackwoods and Workwear will be included in Bunnings’ results for the first half of 2027. Until then, the company said it will continue to disclose key Bunnings metrics, including total retail sales and store-on-store sales, excluding Blackwoods and Workwear group.
Wesfarmers said it does not expect to incur any material one-off costs from the transition and will provide further update at its full-year results in August.
What they said: “With this transition, we see a significant opportunity to leverage greater scale and capabilities to further enhance the customer experience,” Anthony Gianotti said.
“Working more closely with Bunnings will also unlock growth in the small and medium sized customer segments,” he added.
The source: ASX
