Tumu store bought by Fletcher

NEW OWNER, SAME NAME: Tumu's Gisborne building products store is under new ownership. Picture by Liam Clayton

Gisborne's Tumu store is under new ownership but retains existing management and staff.

The Commerce Commission granted clearance for Fletcher Distribution Ltd (FDL), a wholly-owned subsidiary of Fletcher Building Ltd that operates the national network of Placemakers stores, to acquire six building products stores, and a frame and truss manufacturing plant, from Tumu Merchants Ltd.

The six Tumu stores (which until recently operated under the ITM banner) are located in Gisborne, Napier, Hastings, Havelock North, Dannevirke and Masterton. The frame and truss manufacturing plant is in Hastings.

“Fletcher Distribution is excited to welcome the Tumu frame and truss plant and six building supplies stores — including the Gisborne store — into our wider distribution branch network across the East Coast of the lower North Island,” Fletcher Distribution chief executive Bruce McEwen said.

“This is a great opportunity for us and, we believe, a ‘win-win' for Tumu Gisborne customers too, as we are committed to maintaining the great Tumu culture and strong customer service.

“Very little will change. Under the agreement we have access to the Tumu brand for three years and we are committed to maintaining as much of the current business operations as possible. We will be retaining the current Gisborne premises.”

As part of the sale agreement, any people employed directly by the stores or by the frame and truss plant as at August 31, 2022 would be retained with their existing terms and conditions.

“We're pleased that the bulk of the management team have agreed to stay on, including Darin and Corina in Gisborne.

“We believe Tumu people are critical to a successful transition and especially in providing continuity of service for our local customers. We're enjoying getting to know the Tumu team and looking forward to working with them come September.”

Tumu Gisborne would continue to operate as Tumu, but under new Fletcher Distribution ownership, Mr McEwen said.

“Once we complete the acquisition we will be working with the local Tumu teams as to potential range and service offering expansions, leveraging the wider Fletcher Distribution capability.”