Stealth Acquires Hardware & Building Traders and Upgrades FY28 Guidance

Stealth Group Holdings Ltd (ASX: SGI) has announced the acquisition of Hardware & Building Traders Pty Ltd (HBT), Australia’s largest privately owned hardware and industrial buying group, in an all-cash deal valued at AU$22 million. The acquisition, set for completion on 10 November 2025, represents a transformative expansion that establishes Stealth as the nation’s leading alternative to major players Wesfarmers and Metcash. Integrating HBT’s network of approximately 1,165 independent retailers and 490 supplier partnerships, Stealth gains unmatched national scale, expanded buying power, and enhanced operational synergies.

The transaction is expected to deliver around AU$8 million in annual profit synergies by FY27 and generate more than AU$200 million in additional sales by FY28. Stealth has also upgraded its FY28 earnings guidance, forecasting revenue exceeding AU$500 million, EBITDA margins of 8–12%, and NPAT margins between 5–8%. The acquisition reinforces Stealth’s growth strategy and its position as Australia’s market-leading independent hardware distributor.

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