Mitre 10

Mitre 10 Australia Pty. Ltd.

Type	Subsidiary
Industry	Retail/Trade Building supplies
Genre	Hardware
Founded	1959 in Melbourne, Victoria, Australia
Founder	Tom Molomby Tom Danaher Reg Buchanan Jack Womersley Ian Nisbet
Headquarters	Hallam, Melbourne, Victoria, Australia
Number of locations	366 (2015)
Area served	Australia
Key people	Mark Laidlaw, CEO
Products	Timber Hardware Housewares Retail/Trade Plumbing Farm fencing products Trade Electrical supplies Hand and Power Tools Kitchen and Bathroom Paint Garden and Outdoor products
Services	Painting, Tool Sharpening, Pool Water Testing, DIY Workshops
Revenue	A$1.06 billion (2009)
Operating income	A$371.6 million (2009)[2]
Number of employees	16,500
Parent	Metcash
Website	http://www.mitre10.com.au

Mitre 10 is the trading name of an Australian retail and trade hardware store chain. Operations are based on a co-operative system where the store owners are members of the national group and each has voting rights. The chain name references the mitre joint, but was inspired by the Mitre Tavern in Melbourne. There are over 400 "Mitre 10" and its associated "True Value Hardware" franchises throughout Australia.

The move to set up a co-operative group of hardware stores originated from a meeting held in Victoria, in June 1959, with five men who would become Mitre 10's founding fathers — Tom Molomby, Tom Danaher, Reg Buchanan, Jack Womersley and Ian Nisbet. The meeting took place in the Mitre Tavern, and the group eventually hoped to build things up to ten stores, so they decided to call the company "Mitre 10". This move occurred specifically to maximise funds and energy with regards to advertising and promotions and to demonstrate that independent operators offered service, advice and competitive prices.

The new company soon expanded operations, with fifteen New South Wales members joining the group by February 1961. Queensland soon followed with seven retailers, under the chairmanship of Arthur Scurr, joining the cooperative in January 1962, followed by a further sixteen members from Newcastle in October the same year. With the company successfully operational in the three Eastern states of Australia by the end of 1962, South Australia and Western Australia soon started running their own state-based co-operatives, and attention turned to crossing the Tasman.

In June 2004 Mitre 10 Australia opened its first "destination hardware" or "Big-box" chain at Beenleigh, Queensland.

In late 2008 Woolworths Limited and Mitre 10 Australia held talks on the potential acquisition of the company. The Australian Financial Review reported that Mitre 10 Australia had held talks with other companies since beginning to find a major buyer or investor, although in early 2009 Woolworths decided the company structure was too complex for a takeover. Mitre 10 Australia is believed to be in talks with Metcash Trading, supplier of IGA and various liquor stores; analysts say Metcash had been on lookout for a "fourth pillar" for some time to add to its operations, and that Mitre 10 may be perfect.