Woolies’ Danks buys Hardings

COMPETITION in Geelong’s hardware sector has tightened, with Woolworths-owned Danks buying a majority stake in Geelong West’s Hardings store.
The Gordon St Hardings Hardware store, known for its trade supplies, will be rebranded as Danks.
Danks is part of a joint venture between Woolworths and American retail giant Lowes in a roll-out of Masters hardware and home improvement stores.
The hardware supplier will take a 60 per cent interest in Hardings, taking over six sites in Melbourne, Brisbane, Adelaide and Geelong.
A statement from Danks said all employees, including senior management, would remain in the business.
“As a specialist trade-based supplier to the building industry, Hardings Hardware is an ideal fit with our strategic trade model,” Danks said.
“Hardings are a successful family-owned business with a 50-year reputation in the trade sector. We’re pleased to have an opportunity to build on the combined strengths of Hardings and Danks in continuing to service the needs of trade customers.”
Hardings owner Robert Harding said partnering with Danks and Woolworths provided support and resources to grow the business.
“I’m particularly excited with the opportunity for staff to become part of a much larger organisation exhibiting such strong growth.”
Faggs Mitre 10 recently underwent significant structural changes, with parent company Metcash taking a 100 per cent interest in the local chain.
The Independent has also reported that Masters identified two sites in Geelong, one in Bacchus Marsh Rd, Corio, and the other on Bellarine Hwy, Leopold.
However the Leopold site has run into planning issues, with Masters threatening to abandon it if the issues are not resolved.