trending Market Intelligence /marketintelligence/en/news-insights/trending/aUaHJmPpG8qJECgBrB2eMw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Woolworths completes sale of home improvement venture Hydrox

Amazon e-commerce sales soar amid COVID-19

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

Woolworths completes sale of home improvement venture Hydrox

Woolworths Ltd. has exited the home improvement business by completing the sale of Hydrox Holdings Pty. Ltd. to Home Investment Consortium Co. Pty. Ltd., also known as Home Consortium, the Australian retailer said in an Oct. 12 ASX filing.

Woolworths sold 100% of the shares in Hydrox, its joint venture with Lowe's Cos. Inc. that operated Masters home improvement stores in Australia. The transaction was able to be completed after Lowe's was required to sell its 33% stake in Hydrox following arbitration.

Private equity group Home Consortium first proposed the purchase of Hydrox in August 2016 with plans to repurpose the Masters sites into multitenant, large-format shopping centers.

The sale includes 40 Masters freehold trading sites, 21 Masters freehold development sites and 21 Masters leasehold sites, according to Woolworths. Net proceeds were expected to be about A$500 million.