Strategic exit and value preservation for Masters Home Improvement
Masters Home Improvement, a joint venture between Woolworths and Lowe’s, faced persistent challenges in gaining market share against its primary competitor, Bunnings Warehouse.
2 min read
Related Industries
Retail & ConsumerMasters Home Improvement, a joint venture between Woolworths and Lowe’s, faced persistent challenges in gaining market share against its primary competitor, Bunnings Warehouse.
After a failed sale process, Woolworths opted for a solvent wind-down of the business, which included 63 sites across Australia, 6,500 staff, and $1 billion in inventory.
The exit required careful coordination across stakeholders amid intense media scrutiny.
How we helped
Our role
We were engaged to lead the strategic exit, balancing commercial, legal, and people considerations while protecting shareholder value and reputation.
Our approach
Our approach included:
- Conducting a detailed planning phase and evaluating exit scenarios.
- Coordinating activities across HR, store operations, inventory, finance, and real estate.
- Resetting board relationships by replacing Woolworths representatives.
- Facilitating a competitive bidding process for inventory sell-down.
- Providing weekly performance reports to key stakeholders.
Outcomes acheived
- All 63 sites were exited on time and on budget.
- $1 billion in inventory was sold through a managed process.
- Over 3,000 staff were successfully transitioned to new roles.
- IT and finance systems were handed over seamlessly.
- The exit preserved brand reputation and maximised financial return.
Our team delivered Australia’s largest ever solvent business exit driven by clarity, collaboration, and impact.
