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Porters acquires Woodman's Mitre 10 stores

LOOKING TO THE FUTURE: Porters managing director Gavan Porter Sr (right), chairman of the board Barry Porter (centre) and director Paul Porter. The brothers believe Porters' acquisition of four Woodman's Mitre 10 stores will help the hardware and building supply company thrive.
LOOKING TO THE FUTURE: Porters managing director Gavan Porter Sr (right), chairman of the board Barry Porter (centre) and director Paul Porter. The brothers believe Porters' acquisition of four Woodman's Mitre 10 stores will help the hardware and building supply company thrive. Luke Mortimer

UPDATE: PORTERS owners have dubbed the company's acquisition of four Woodman's Mitre 10 stores the consolidation of two long-running, family-owned Mackay businesses.

Managing director Gavan Porter Sr revealed the company's purchase of the stores in Sarina, Marian, Proserpine and Cannonvale yesterday. He and his brothers, director Paul Porter and chairman of the board Barry Porter, said their family would retain total control over all stores.

Porters hardware and building supplies stores will operate under the new Porter's Mitre 10 banner from June 1.

Woodman's Mitre 10 on Nebo Rd in Mackay is not part of the deal and will close to customers on May 31, owner Kerry Woodman confirmed.

While meeting with the Daily Mercury on Friday, it was clear the Porter brothers - whose great grandfather Charles Porter founded the business 134 years ago - were pleased with the transaction.

They believe it will assure Porters' future, following challenging market conditions in recent years.

"It's great to take over the Woodman's business, they've been a great business here in Mackay for so many years," Paul Porter said.

"They've decided to exit the market and we decided it was a great opportunity to take it on. It gives us a lot of strength in our buying. They (the stores) will all still be totally owned by the Porter family."

Gavan Porter Snr said Mitre 10 is "a buying and marketing group and they've got nothing to do with ownership".

"It's all still under the Charles Porter and Sons' banner," he said.

 

Charles Porter and Co was established in 1883.
Charles Porter and Co was established in 1883.

Barry Porter said the trio still "want Porters to be family owned in 175 years".

"We've got fifth and six generations working in the business now and we don't want that to change."

Porters already employs 150 staff and once the acquisition is complete they will have about 50 more.

The Porter brothers said their company and Woodman's Mitre 10 shared similar core values.

Gavan Porter Snr said the move would see the Mitre 10 group bring new offerings to regional customers, including dedicated Trade Centres in Mackay and Cannonvale.

"We thank the community for their support over the past 134 years and we are looking forward to continuing to provide a competitive offering as a strong independent in the hardware industry," he said.

Porters story first began when Charles Porter tendered a job out of Brisbane to build the Empress of India Hotel, known now as Taylor's Hotel.

There was nowhere in town to buy his hardware and he was sourcing building supplies from south of Mackay and shipping via the Pioneer River.

He decided to set up a timber and hardware business in 1883. Porters is still going strong in Mackay 134 years later.

 

The Porter brothers believe their family firm's acquisition of four Woodman's Mitre 10 stores will help the hardware and building supply company thrive.
The Porter brothers believe their family firm's acquisition of four Woodman's Mitre 10 stores will help the hardware and building supply company thrive. Luke Mortimer

INITIAL: MACKAY hardware and building supplies company Porters has announced its acquisition of Woodman's Mitre 10's Sarina, Marian, Proserpine and Cannonvale stores.

Additionally, Porters managing director Gavan Porter Sr said the company had forged an alliance with Mitre 10 Australia, part of the Independent Hardware Group.

Mr Porter said customers could expect "newly reinvigorated teams, wider product ranges, new loyalty programs and in-store services under the new Porter's Mitre 10 banner".

"The acquisition will consolidate two strong local family hardware and building supplies businesses in the region," he said.

"We are working closely with the Woodman family and look forward to welcoming the Woodman's staff to the Porters team from June 1, 2017.

"We are excited to be joining the Mitre 10 group as Australia's largest independent home improvement and hardware wholesaler to the industry; this will allow the Porters business to continue to thrive and grow for many years to come.

Mr Porter said Porters and Woodman's Mitre 10 shared similar core values.

"We will be working hard with our teams to integrate the businesses under the Porter's Mitre 10 banner. Our existing Porters Building Supplies, Hardware and Lifestyle and Whitsunday stores will also be integrated within the Mitre 10 Australia group from June 1," he said.

Mr Porter said the move would see the Mitre 10 group bring new offerings to Mackay-Whitsunday customers, including dedicated Trade Centres in Mackay and Cannonvale.

"We are 100% committed to our customers in the Mackay and Whitsunday region and we are proud to be announcing today this new venture for Porters and Mitre 10," he said.

"We thank the community for their support over the past 134 years and we are looking forward to continuing to provide a competitive offering as a strong independent in the hardware industry."

Established in 1883 by Charles Porter, originally as a timber yard, Porters is today run by fourth and fifth generation descendants.

Topics:  acqusition alliance cannonvale hardware mackay marian mitre 10 porters proserpine sarina whitsundays


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