‘Don’t mess up’: Secret rules behind Victoria’s 90-year-old Haymes Paint family empire
They’re the ‘last man standing’ in an industry dominated by overseas giants, but this Victorian family business - one of Australia’s oldest - has three rules that grew their $175m empire.
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One of Australia’s oldest family businesses has revealed how they remain the ‘last man standing’ as the only Australian-made paint brand in an industry dominated by international giants.
Ballarat-based Haymes Paint, the nation’s largest Australian-made and owned paint manufacturer, officially celebrated its 90th birthday last month with the grand opening of a $25 million state-of-the-art manufacturing plant and research facility named The David Haymes Centre of Excellence.
With a turnover of $175 million, employing more than 400 people and commanding a 10 per cent market share in the Australian paint market, the third-generation family business has survived while competitors including Dulux, Taubmans and Wattyl have been sold to overseas corporations.
“We’re the only Australian one left. We’re the only family Australian paint manufacturer left. Geez, we don’t want to bugger this up. We want to make sure it keeps going,” third-generation leader and director Matt Haymes said.
The family operates under three simple rules: “blood is thicker than paint” (family comes first), “don’t mess it up” (as custodians), and unanimous agreement on major decisions.
“We realised when we started working together that we’ve all got strengths and weaknesses, and sometimes those are really complimentary,” he said.
“It’s not about us individually or even immediate family. Every day we wake up, we come to work, and we’ve got 438 families that rely on us.”
The new facility more than doubles Haymes Paint’s manufacturing capacity and forms part of a larger $40 million investment over five years, demonstrating the company’s commitment to Australian manufacturing and sustainable production.
The company’s path to complete family ownership wasn’t straightforward.
When Henry Haymes incorporated the business in 1935, he owned just 25 per cent, having approached family and friends to raise capital in the Depression era, resulting in over 60 investors by the mid-1980s.
Henry passed away in 1955 at age 50, with his share going to his wife Mavis, who as a woman at that time wasn’t welcomed into the business operations.
It wasn’t until the late 1960s that Henry’s adopted son David Haymes returned to lead the company’s transformation.
David became managing director in 1973 and spearheaded the business reinvention until his retirement in 2008.
The pivotal moment came in 1986 when David and Jenny Haymes repurchased the entire business from all shareholders, making Haymes Paint 100 per cent family-owned.
Today’s leadership comprises Matt Haymes, his brother Tim Haymes, sister Belinda Haymes, and brother-in-law Rod Walton, who serves as CEO.
The new David Haymes Centre of Excellence showcases the company’s environmental commitment, featuring 2,000 square metres of solar panels and two 160-kilolitre rainwater tanks providing up to 80 per cent of water used in paint production.
The facility also positions Haymes Paint to develop products specifically designed for Australian conditions, competing against international competitors who increasingly rely on overseas-manufactured products.
Despite maintaining its headquarters and manufacturing in Ballarat since 1935, Haymes Paint now operates through more than 350 stockists nationally, including 59 Haymes Paint Shops and 39 PaintRight stores, offering over 5,000 paint colours.
The company became the official paint supplier to the Victorian National Trust in the 1980s, building on its heritage colour expertise developed through Ballarat’s historic buildings.
Chief Executive officer Rod Walton, who has been with the company for nearly three decades, said the investment represents more than infrastructure.
“This is about future-proofing our business, supporting Australian jobs, and continuing to provide the highest quality products to our customers. Despite our growing national footprint, Ballarat will always be the heart of Haymes Paint.”
The paint industry has been consolidated by three major international corporations: Japan’s Nippon (which owns Dulux and 13 other brands), plus American and European companies owning Taubmans and Wattyl.
Matt Haymes noted that dozens of family-owned paint manufacturers once operated across Australia but all have been sold to overseas corporations.
The family has set ambitious goals, aiming to reach 100 years and beyond, with aspirations to grow their market share by another five to 10 per cent by their centenary.
Haymes Paint employs 420 people and remains committed to Australian manufacturing, quality products, and supporting independent retailers, ensuring profits stay within Australia rather than flowing to overseas shareholders.
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Originally published as ‘Don’t mess up’: Secret rules behind Victoria’s 90-year-old Haymes Paint family empire
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