Lowe's, Woolworths partner in Australia

08/25/2009 | Bloomberg

Lowe's is planning to enter the $20 billion hardware market in Australia through a joint venture with Sydney-based Woolworths. The plan, Woolworths said, is to open 150 stores over several years, starting with an acquisition of Danks Holdings, the second-biggest hardware distributor in Australia. The Lowe's-Woolworth venture will compete with Bunnings.

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