The same day Woolworths announced it was selling Masters, the chain’s more successful rival Bunnings’ ambitious overseas expansion plans have been revealed.
News.com.au reports Bunnings parent company Wesfarmers is plotting a $700 million takeover of a chain of hardware stores about to open in the UK.
Economist Jason Murphy told the publication that the move was “a risk” but one that could “pay off big”.
“Big local companies are more at risk if the Australian economy dips,” he wrote. “A company with operations all over the world, however, can endure when times are tough at home, and support local jobs.”
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