Former chairman Martin Dippie (left) with new chairman Andrew Smith (right). Photo / Mitre 10
Former chairman Martin Dippie (left) with new chairman Andrew Smith (right). Photo / Mitre 10
A shareholder in all three Christchurch Mitre 10 stores, Andrew Smith, is the new chairman of New Zealand’s biggest home improvement and garden retailer, taking over from Martin Dippie who operates stores in Dunedin, Wanaka and Mosgiel.
“Martin Dippie is putting down the tools after 18 years in the roleand 28 in total on our board,” the business said.
Dippie’s contribution to Mitre 10′s success had been “immense. He is a visionary leader, a passionate advocate and a loyal friend to our co-operative and its members, and he remains member principal and owner of Mitre 10 Mega Dunedin, Mitre 10 MEGA Wanaka and Mitre 10 Mosgiel”, it said.
Smith has been a Mitre 10 board member since 2018.
The Mitre 10 business Smith partly owns is larger than Dippie’s.
The Herald’s Mitre 10 power list last year said Smiths Hardware (previously known as Upper Riccarton Hardware) of Christchurch is the second-largest shareholder in the group. It then owned 378,184 shares, 3.99 per cent and had 429 employees for Covid cash in 2020.
Dippie’s business was last year the eighth-largest shareholder via Jacks Hardware & Timber of Dunedin. It then owned 241,600 shares equating to 2.55 per cent. Dippie, who races Porsches, owns Jacks via Otago Land & Merchants.
Mitre 10 ex-chairman Martin Dippie (left) in 2016 with Jona Grant in Havelock North. They came second in their Porsche 991GT 3R3. Photo / Duncan Brown
In Christchurch, Smiths Hardware shareholders are Andrew, Brent, Murray Smith and Clair O’Neill.
They own Mitre 10 Mega Hornby, Mitre 10 Mega Papanui, Mitre 10 Beckenham and that business says it’s been a part of Christchurch for more than 50 years.
“It all began in 1964 with a hardware shop on Waimairi Rd owned by Reg Smith, [which is] still owned and operated by the family, Smiths Hardware has now grown to its current size, with two of the country’s biggest Mitre 10 Mega home improvement stores in Hornby and Papanui both stocking over 54,000 different products and a large Mitre 10 situated in Beckenham,” Smiths says.
The company employed more than 350 staff.
The Smiths said Mitre 10 had always had a dedicated trade offer but since the Christchurch earthquakes, it substantially grew its trade and building supplies business.
“We have specialist teams in each branch, including ex-builders, plumbers and handymen to assist with your requirements. From foundation to fence line, Mitre 10 Mega has it all,” the business says.
In 2016, Murray and Andrew Smith opened Mitre 10 Mega on Papanui’s ex-Marmite Sanitarium site. Murray Smith said they looked at 13 other options for a new store in the area over 13 years. Eventually, they bought the Sanitarium block and the old Firestone factory next door.
Those Mitre 10 Christchurch shareholders are second-only to Auckland’s Riviera Hardware Holdings which owns 546,300 shares or 5.76 per cent of Mitre 10 (New Zealand). That business had 373 employees declared for an initial $2.3m Covid cash in 2020, although the wider group reports 700 staff.
Riviera is 81 per cent owned by Hamish Caithness and Sandra Cameron of Mosgiel with Dunedin’s Polson Higgs Nominees (2014), and Cameron (known as Cam) Caithness and Celia Franco of Dairy Flat and GCA Legal Trustee. Cam Caithness is Riviera’s managing director.
In announcing the chairman change, Mitre 10 said it turns 50 this year, having been founded in June, 1974.
Companies Office records show nine Mitre 10 (New Zealand) directors: Christchurch’s Andrew Smith, Auckland’s Cam Caithness, Dunedin’s Martin Dippie, Tricia Indo of Paraparaumu, David Jackson of Auckland, Conor Kershaw of Martinborough, Jonathan MacDonald of Wellington, Stephen Ricketts of Napier and Jason Smith of Queenstown.
Anne Gibson has been the Herald’s property editor for 24 years, has won many awards, written books and covered property extensively here and overseas.
