The sale brings to an end more than 60 years of family ownership.,
RJ Beaumont established Beaumont Tiles in 1960 and set up a showroom in Grote Street, Adelaide but has expanded to about 110 locations nationally.
The sale comes a year after Bunnings bought out SA business Adelaide Tools.
Like Adelaide Tools, Bunnings says Beaumont Tiles will remain separate and distinct to Bunnings.
Beaumont Tiles executive chairman Bob Beaumont said that the takeover by an Australian company with shared values and a similar culture would ensure staff, franchisees, the culture and its future were looked after.
“After 53 years dedicated to a business that my dad started in South Australia, it’s time to retire. I knew that it would never be an easy thing to do, and it’s been a tough decision, but the board and I recognised the need for us to make way for a younger team,” Beaumont said.
“What made the decision easier, was knowing the brand and business we worked so hard to build from scratch would be placed in the best possible position for ongoing success and growth and I’m really thrilled at the outcome for Beaumonts.
“Our family signed a contract to sell the business to Bunnings, as they understand our brand and culture, and will look after our extended Beaumont family including our franchisees and our teams.
Beaumont Tiles’ flagship showroom at 200 Grote Street. Picture: Andrew SpenceThe Beaumont Tiles sale is subject to the satisfaction of a number of conditions, including regulatory approval.
Bunnings is owned by Wesfarmers, which also owns other major retailers including Kmart, Target and Officeworks.
Bunnings Managing Director Mike Schneider said the acquisition represented an opportunity to build on the success of the Beaumont Tiles business and invest in its future growth.
“Beaumont Tiles services both trade and consumer customers and has a specialised product and service capability that is not able to be offered through the Bunnings Warehouse format,” he said.
“Beaumont Tiles has a strong management team in place and operates in a large, competitive category that has the opportunity for strong growth.”
Local News Matters
Media diversity is under threat in Australia – nowhere more so than in South Australia. The state needs more than one voice to guide it forward and you can help with a donation of any size to InDaily. Your contribution goes directly to helping our journalists uncover the facts. Please click below to contribute to InDaily.