Supermarket wholesaler Metcash will take full control of the Total Tools business, tipping in $101.5 million to snap up the 15 per cent of the hardware chain it does not already own by the end of the month.
Total Tools chief executive Paul Dumbrell will step down after more than five years in the top job. He plans to stay until the end of April, before taking an extended break with his family, Metcash said.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
