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Total Tools to be fully acquired by Metcash, CEO steps down

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By Published On: November 14, 20231 Comment

Total Tools’ majority stakeholder Metcash has announced it will be taking full ownership of the company’s shares later this month.

Metcash has moved to take full ownership of Total Tools by the end of the month. The wholesale distribution and marketing company already owns 85 percent of Total Tools, which it acquired in 2020 for $57m, and will now take on the remaining 15 percent of shares before December, the consideration for which totals $101.5m.

In the announcement released by Metcash on Monday, it noted that since the company acquired its majority ownership annual sales near doubled from $585m in FY20 to $1,085b in FY23. Metcash has also led an expansion from 81 to 112 stores, and has plans to add 10 stores a year for the foreseeable future.

Also included in Monday’s announcement, Paul Dumbrell has announced his intention to step down as CEO of Total Tools in April next year. He was appointed CEO of TTH in 2018 and agreed to stay on in the role after Metcash’s 2020 majority stake acquisition.“It’s been a pleasure to lead such a strong and exciting growth business,” he said.

Metcash Group CEO, Doug Jones said: “Paul has played a key role in the growth of Total Tools and in the smooth and seamless transition to Metcash ownership. Paul is leaving the Total Tools business in great shape with a successful winning strategy and a strong leadership team. I sincerely thank him for his considerable efforts and support, and we wish him all the best for the future, including his well-deserved extended break.”

Metcash says it has begun the search for a new CEO and is considering both internal and external candidates.

About the Author: Rosalea Catterson

Rosalea is the Editor of Power Retail. With a keen interest in consumer behaviour and tech, she covers everything ecommerce and hosts the Power Retail Power Talks Podcast.

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One Comment

  1. scratch geometry dash November 16, 2023 at 5:46 PM - Reply

    We appreciate all of his hard work and support, and we wish him the best in the future.

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