Metcash’s Mitre 10 has signed a joint venture with a Victorian hardware group Fagg’s Geelong.
Metcash CEO Andrew Reitzer says the joint venture is with Fagg’s Geelong, which operates three store in the Geelong region.
“This joint venture will not only allow Fagg's Mitre 10 to continue to be a major part of the Mitre 10 network, but more importantly provides the platform for future growth opportunities,” he says.
This joint venture follows the Mitre 10 joint venture with Sunshine Mitre 10, a model Metcash plans to implement throughout Australia as opportunities arise.
The current general manager of Fagg’s, Mark Edmonds, will assume the role of chief executive officer, reporting direct to the new Board.
The joint venture arrangement will commence on June 1, 2012.
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