Australian home improvement retailer Bunnings Group Ltd. agreed to acquire hardware specialty store Adelaide Tools for an undisclosed amount, according to an Oct. 11 announcement.
Adelaide Tools is based in South Australia and specializes in do-it-yourself and trade devices.
"The acquisition ... will allow us to improve the way we connect, serve and engage with trade customers and is aligned with our strategy to accelerate the growth of the trade business," Bunnings Managing Director Mike Schneider said.
Adelaide Tools will continue to operate as a separate business upon closing of the deal and give Bunnings insight into the dynamics of the trade specialist market, Schneider said.
The transaction is subject to regulatory approval.
Bunnings is a wholly owned subsidiary of Wesfarmers Ltd.