Watchdog presses pause on Placemakers purchase

Placemakers wants to take over six ITM stores as well as a Hastings frame and truss plant from Tumu Merchants. (Image: ITM)

Staff reporters

Mon, 13 Jun 2022

The Commerce Commission has taken a dim view of Fletcher Distribution's proposed purchase of six Independent Timber Merchants (ITM) in the Wairarapa and Hawke's Bay.Fletcher Distribution, the owner of building supplies merchant Placemakers, is seeking clearance to acquire six ITM stores as well as a Hastings frame and truss plant from Tumu Merchants. The stores are in Gisborne, Napier, Hastings, Havelock North, Dannevirke and Masterton.The deal will add to Placemaker's national network of 62 hardware stores, and bring the number of...

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