NZ safety business sold

The company is buying Protector Safety Supply from OPSM for A$60 million.

The acquisition is subject to rulings by the Commerce Commission in New Zealand and its Australian equivalent.

Howard Smith says it expects the purchase will add around A$150 million in extra revenue.

Protector Safety has four distribution centres and 28 branches in Australia and 23 branches in New Zealand which offer a range of protective equipment and workwear.

Howard Smith, which also owns the Benchmark hardware chain in New Zealand, recently sold its towage division to Adsteam Marine to focus on its hardware and industrials supplies business.

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