Steel retailer opens revamped stores
Steel and building material retailer Alert Steel announced the opening of revamped stores that it obtained as part of its R58.1-million acquisition of BuildKwik Wholesalers earlier last year. The company launched the opening of its revamped stores in November last year in Silver Lakes, Mabopane, Hammanskraal and Pretoria West.
“The launch of the upgraded and rebranded stores forms part of Alert Steel’s strategy to be a one-stop shop for consumers and commercial buyers,” says Alert Steel CEO Peter Dodson.
He emphasises that Build-Kwik’s range adds hardware and building materials to Alert Steel’s existing products, noting that the new stores have a comprehensive offering and stock daily consumables and large-scale items.
Dodson says the megastores specialise in timber, plumbing, steel, hardware, paint, security products, home décor and building materials.
“The acquisition of BuildKwik will significantly increase Alert Steel’s turnover and provide a greater national footprint in the market,” notes Dodson.
He points out that, in addition to increasing the company’s footprint, the BuildKwik purchase will provide a management and supply chain benefit that will enhance the profitability of the group, particularly through an increase in turnover.
“This acquisition and other business restructuring plans arose from a buy-out of Alert Steel’s debt earlier this year to save the company, which was experiencing financial difficulty at the time,” he explains.
Dodson states that his team is implementing several new strategies to turn the business around and initiatives such as these megastore developments offer exciting growth opportunities for the company.
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