Wesfarmers

Bought in January 1993 the integration of Dalgety Farmers with Wesfarmers proved more difficult than expected. For a time the merged rural agency and merchandise business was Wesfarmers Dalgety until renamed Wesfarmers Landmark in March 2001 after IAMA Limited was brought in. Landmark, Wesfarmers foundation business, was sold to AWB Limited (originally the Australia Wheat Board) in August 2003.[12]

An initial investment in 10 percent of Bunnings in February 1987 reached full ownership in January 1994. Bunnings bought UK retailer Homebase in February 2016 and Britain's first Bunnings store opened twelve months later in February 2017.[12] They were 265 well-located stores and Wesfarmers believed Bunnings' management would greatly improve their modest profits. The plan was to make changes gently but tactics changed and local management, perceived as under-performing, was removed and replaced by expatriate management. The expatriate management's changes alienated the existing customer base and, aided by a poor retailing climate, brought a rapid decline into losses. A strategic review by Wesfarmers resulted in the May 2018 sale of the business to Hilco Capital at a loss of (Australian) $1.96 billion.[13]

Begun in a joint venture with Genesee & Wyoming by the purchase of Westrail at the beginning of 2000 Australian Railroad Group was sold in 2006 to Babcock & Brown and Queensland Rail.[12]

In 2001 Wesfarmers become a freely-traded publicly listed company with open ownership.[11] After becoming a public company, Wesfarmers diversified its interests by acquiring other businesses.

This division is made up of Bunnings Warehouse, a retailer of home improvement and outdoor living products, servicing home and commercial customers in Australia and New Zealand, and Officeworks, a retailer and supplier of office products for home, business and education in Australia. There are 210 Bunnings "warehouse" (larger) stores, 67 Bunnings small format stores, 36 Bunnings Trade centres and 150 Officeworks stores. Bunnings employs more than 33,000 staff and Officeworks employs more than 6,000 staff.[14]

In January 2016, Home Retail Group accepted an offer from Wesfarmers to acquire the British home improvement retailer and garden centre Homebase. Stores in the United Kingdom and Ireland began to be rebranded as Bunnings following the takeover.[15] However, following Wesfarmer's sale of Homebase to Hilco in May 2018,[16] it was reported that the 24 stores already converted would return to the "Homebase" branding.[16]

In February 2016, Wesfarmers announced a restructure of its department store businesses into a single division named Department Stores, with each brand continuing to operate independently.[17]

Kmart is a discount department store retailer in Australia and New Zealand, and a provider of retail automotive services, repairs and tyres in Australia. Kmart has 228 Kmart stores and 259 Kmart Tyre & Auto Service centres. Kmart employs more than 31,000 staff.[14]

Target is a mid-level department store retailer in Australia. Target has 305 stores. Target employs more than 24,000 staff.[14] In 2014, Wesfarmers was forced to write-down the value of Target by $680 million because of a fall in the company's profits.[18]

In August 2015, Wesfarmers announced an organisational restructure to cluster its three industrial businesses, Chemicals, Energy & Fertilisers (WesCEF); Resources; and Industrial and Safety (WIS) into a single, new Industrials division.[19]

Wesfarmers Chemicals, Energy & Fertilisers (WesCEF) produces and markets chemicals, fertilisers and gas products. WesCEF has ammonia and ammonium nitrate production facilities in Western Australia, 50% of QNP ammonium nitrate production facilities in Queensland, sodium cyanide production facilities in Western Australia, PVC resin and specialty chemicals production facilities in Victoria, LPG and LNG distribution across Australia with LPG and LNG production facilities in Western Australia and fertiliser production and importation facilities in Western Australia. WesCEF employs more than 1,200 staff.[14] WesCEF businesses include CSBP, Australian Vinyls, AGR, QNP, Evol LNG, Kleenheat and Modwood.

Wesfarmers Resources owns and operates world-scale open-cut coal producing resources in Australia, and has Curragh in Queensland which produces metallurgical coal for export and steaming coal for domestic power generation and 40% of Bengalla in New South Wales, which is operated by Coal & Allied and produces export steaming coal for Asia. Wesfarmers Resources employs more than 650 staff.[14]

Wesfarmers Industrial and Safety provides industrial and safety products and services in Australia and New Zealand. On 1 December 2014, Wesfamers Industrial and Safety completed the acquisition of the Workwear Group of Pacific Brands Limited.[20] Wesfarmers Industrial and Safety businesses include Blackwoods, NZ Safety, Greencap,[21] Bullivants, Coregas, Blackwoods Protector, Safety Source, Total Fasteners, Packaging House, King Gee, Hard Yakka, Stubbies and GotStock.

Wesfarmers has a 50% interest in investment house Gresham Partners plus interests in Gresham Private Equity Funds, 50% interest in Wespine, a plantation softwood sawmill in Dardanup and a 24% interest in BWP Trust which mainly owns Bunnings Warehouses tenanted by Bunnings Group Limited.[14]

Wesfarmers has 100% interest in many other subsidiaries across Australia, New Zealand, India, New Caledonia, United Kingdom, Hong Kong, Indonesia, China, Bermuda and Singapore. These include BBC Hardware, Coles Ansett Travel, Coles Group Superannuation Fund, Coles Property Management, Comnet, Fosseys, Grocery Holdings Pty Ltd, Harris Technology, Howard Smith, Katies Fashions, Loyalty Pacific, Masters Home Improvement New Zealand, Morley Shopping Centre, now.com.au, Theo's Liquor, Tooronga Shopping Centre, Tyremaster, Viking Direct and World 4 Kids.[14]

On 16 June 2014, Wesfarmers completed the sale of its insurance broking and premium funding operations, including OAMPS Insurance Brokers in Australia, OAMPS UK, Crombie Lockwood in New Zealand, Lumley Finance and Monument Premium Financing to Arthur J. Gallagher & Co.[22] On 30 June 2014, Wesfarmers completed the sale of its insurance underwriting operations, including the WFI and Lumley brands, to the Insurance Australia Group.[23]

On 2 July 2007, Wesfarmers announced it was purchasing the Coles Group retail business for A$22 billion making it the largest successful take-over in Australian corporate history. Wesfarmers took control of Coles on 23 November 2007, after paying almost A$20 billion for the company. Wesfarmers had already purchased 13 per cent of the retailer in April.[24][25]

Coles is a national supermarket, liquor, fuel and convenience retailer in Australia. As of September 2013, Coles operates 756 full-service supermarkets, 810 liquor outlets, 92 hotels, and 636 fuel and convenience stores. Coles employs more than 105,000 staff.[14] Coles' businesses include Coles Supermarkets, Coles Online, Coles Express, Vintage Cellars, 1st Choice Liquor Superstore, BI-LO, Coles Financial Services and Liquorland.

On 16 March 2018, Wesfarmers held a meeting to discuss its intention to demerge from Coles,[26][27] The demerge was effective from 21 November 2018 with Wesfarmers retaining a 15% shareholding.[28]