Mitre 10 expands range with US tie-up

Mitre 10 chief executive Neil Cowie. Photo / Richard Robinson.

New Zealand's biggest hardware and DIY chain Mitre 10 has formed an alliance with the world's largest hardware co-operative, Ace Hardware headquartered in the United States.

Ace sells somes of the world's best brands, including Dewalt, Weber and Craftsman so the offer could considerably ramp up competition against Mitre 10 rival Bunnings.

Neil Cowie, Mitre 10 chief executive, and Bob Moschorak, president of Ace International Holdings, issued a joint release on the deal.

Ace has 4850 hardware stores, is in all 50 US state, headquartered in Oak Brook, Illinois with 14 distribution centres in the US but retail stores in 60 countries.

Mitre 10 has 81 locally owned and operates stores.

Cowie did not specify exactly what Ace products Mitre 10 would deal in but said Kiwis would get access to a new range of home improvement products.

"Following strong recent growth in both turnover and store numbers here in New Zealand we have been actively seeking an additional strategic supply partner to support our continuing growth and better serve our DIY and trade customers with an extended range," Cowie said.

"We are delighted that the arrangements we have made with Ace Hardware give us access to a single source of products from the United States, access to shared expertise, and a stronger supply chain. While we will continue to source from our many suppliers here in New Zealand and in Asia, our new affiliation with Ace Hardware International gives more choice to Kiwis who want to improve their homes.

"Like us, Ace Hardware is a locally owned and operated co-operative with strong community ties built on the passion and ingenuity of its retail store owners. We feel these synergies, along with the organisation's proven wholesale performance, make them an ideal partner for us.

"We are really excited to enter this alliance and believe it will help us to keep up the momentum we've achieved over the past few years to continue forward with solid growth and expansion," Cowie said.

Moschorak of Ace welcomed the deal.

"From Mitre 10's vision to be 'the best home improvement store in every town' and its customer-centric values, to its strong financial performance and market-leading position, we could not think of a company better aligned with Ace's vision to further grow our international wholesale presence."

The statement said the new products would be on the shelves in Mitre 10 stores in the coming months.

The agreement also enables individual Mitre 10 stores to buy Ace Hardware products directly, the statement said.

Read the media release here: