Wesfarmers

Wesfarmers Limited
Company type	Public
Industry	Conglomerate (retail, chemicals, fertilisers, industrial goods, safety equipment)
Founded	1914
Founder	Farmers' and Settlers' Association of Western Australia
Headquarters	Perth, Australia
Area served	Australia, New Zealand
Products	Retail, chemicals, fertilisers, industrial goods, safety equipment
Number of employees	120,000 (2024)
Website	www.wesfarmers.com.au

Wesfarmers Limited is a prominent Australian conglomerate, based in Perth, Western Australia. Its operations primarily span Australia and New Zealand, encompassing sectors such as retail, chemicals, fertilisers, industrial goods, and safety equipment. Generating revenues of A$44 billion in 2024, Wesfarmers stands as one of the top revenue-earning companies in Australia. It also ranks as a major private sector employer, with a workforce numbering around 120,000.

Originating in 1914 as a co-operative dedicated to supporting farmers in Western Australia, Wesfarmers transitioned to a publicly traded company on the Australian Securities Exchange in 1984, evolving into a significant industrial and retail conglomerate.

History

The Westralian Farmers Co‐operative Limited was created in 1914 by the Farmers' and Settlers' Association of Western Australia to take over the assets of the West Australian Producers' Union, focusing on providing goods and services to the rural community of Western Australia. The name "Westralian" is a blend of "western" and "Australian". By 1919, more than 65 local co-operatives served as agents for Westralian Farmers Limited.

In 1924, the company established Western Australia's inaugural public radio station, 6WF, which was later transferred to the Australian Broadcasting Corporation in 1929.

The organisation maintained close ties with the Co-operative Federation of Western Australia. By the 1940s, its activities had expanded to include wheat and general merchandise sales; distribution for Commonwealth Oil Refineries; auctioneering of wool, livestock, skins, and produce; exportation of grain and fruit; underwriting insurance; and serving as procurement agents for the WA wheat pool. Operating under the name Westralian Farmers Limited, it held offices throughout Perth’s central business district and Fremantle.

In 1949, Wesfarmers took over Ashburton Transport despite its unprofitable status and followed this by acquiring its main rival, Gascoyne Trading, in 1950. This acquisition unified supply chain operations across northwest Western Australia. The merged entity handled transportation of wool, mail, and bananas from Carnarvon to Perth while returning with supplies. Gascoyne Trading was a pioneer in refrigerated transport within the region and introduced three-trailer road trains capable of carrying loads up to 115 tonnes.

The restructuring of Westralian Farmers Co-operative Limited into Wesfarmers Limited occurred in 1984, marking its transformation from a co-operative into a publicly listed company on the Australian Securities Exchange as of 15 November 1984. Initially, the co-operative retained a 60% ownership stake to preserve control by farmer members while distributing the remaining shares among them.

In 1991, an archive comprising 19 m³ of records from Westralian Farmers Co-operative was deposited at the J S Battye Library in Perth.

Rural business, Dalgety Farmers and Wesfarmers Landmark

The acquisition of Dalgety Farmers in January 1993 presented more complexities than anticipated during integration. The merged rural agency and merchandise operations were initially branded Wesfarmers Dalgety before being renamed Wesfarmers Landmark in March 2001 following the incorporation of IAMA Limited. Landmark formed a core part of Wesfarmers’ portfolio until its sale to AWB Limited in August 2003.

Bunnings

Wesfarmers first purchased a 10% share in Bunnings in February 1987 before obtaining complete control by January 1994. The company ventured into the UK market by acquiring Homebase in February 2016, launching the inaugural Bunnings store in Britain in February 2017. Although operating 265 outlets, management changes led to replacing local personnel with expatriates, which distanced customers and resulted in losses amid a challenging retail climate. Consequently, a strategic reassessment culminated in selling Homebase to Hilco Capital in May 2018, incurring a loss of A$1.96 billion.

Australian Railroad Group

The Australian Railroad Group was established as a joint venture with Genesee & Wyoming following the acquisition of Westrail in 2000. It was subsequently sold in 2006 to Babcock & Brown and Queensland Rail.

End of co-operative ownership

In 2001, Wesfarmers transitioned into a publicly listed entity with open shareholder participation, enabling diversification through multiple acquisitions.

Bunnings Group

Bunnings Group stands as a prominent retailer specializing in home improvement and outdoor living products across Australia and New Zealand, managing 513 outlets including large warehouse-style stores, smaller retail locations, and trade centres. Its holdings include Beaumont Tiles and Tool Kit Depot, employing over 51,000 individuals.

In January 2016, Wesfarmers acquired British retailer Homebase, initiating rebranding efforts to convert UK and Ireland stores into Bunnings outlets. However, after selling Homebase to Hilco Capital in May 2018, the rebranded stores reverted to the Homebase name.

Kmart Group

Kmart operates more than 322 discount department stores throughout Australia and New Zealand, employing upwards of 40,000 staff members. Wesfarmers divested Kmart Tyre & Auto Service to Continental AG, which rebranded it as MyCar.

Target is a mid-market department store chain with 124 locations across Australia and employs over 10,000 people. It is not affiliated with the US retailer sharing the same name.

Officeworks

Officeworks offers office supplies for residential, commercial, and educational sectors across Australia through its network of 171 stores and approximately 9,000 employees. In 2019, Officeworks expanded its services by acquiring Geeks2U, an on-site IT support company.

Chemicals, Energy and Fertilisers

Wesfarmers Chemicals, Energy & Fertilisers (WesCEF) manufactures and markets chemicals, fertilisers, and gas products with a workforce exceeding 1,500 employees. Its operations encompass ammonia and ammonium nitrate production facilities in Western Australia and Queensland (holding a 50% interest in QNP), sodium cyanide manufacturing in WA, PVC resin and specialty chemicals production in Victoria, LPG and LNG operations in WA, along with fertiliser manufacturing and import capabilities.

Key subsidiaries include CSBP, Australian Vinyls, AGR (75% ownership), QNP (50% ownership), Covalent Lithium (50% ownership), Kleenheat Gas, Modwood, and Evol LNG.

Industrial and Safety

Wesfarmers Industrial and Safety provides industrial and safety products throughout Australia and New Zealand with a workforce of around 3,700 employees. It expanded its portfolio by acquiring Pacific Brands' Workwear Group in December 2014.

This division’s brands include Blackwoods (alongside NZ Safety Blackwoods, Bullivants, Cm3), Workwear Group labels such as King Gee and Hard Yakka, as well as Coregas. Its 32 New Zealand outlets operate under the NZ Safety Blackwoods banner, integrating former Blackwood, Packaging House, and Paykel Engineering Supplies locations.

Wesfarmers Health

In March 2022, Wesfarmers completed the acquisition of Australian Pharmaceutical Industries (API), leading to the creation of Wesfarmers Health, a healthcare division employing approximately 3,000 individuals. In June 2023, this segment was further strengthened by the $135 million purchase of InstantScripts, an e-health start-up. By late 2024, Wesfarmers Health introduced Atomica, a trial beauty retail concept. The division expanded again in June 2025 through acquiring the Pharmacy 4 Less Group—owners of Pharmacy 4 Less and Your Chemist Shop brands—following the group’s voluntary administration earlier that year.

Wesfarmers OneDigital

Wesfarmers entered the digital retail space by acquiring Catch Group, which operates Catch.com.au, in August 2019. However, on 21 January 2025, Wesfarmers declared it would shut down Catch.com.au by 30 April 2025, leading to around 190 job redundancies.

Other businesses

Wesfarmers fully owns multiple subsidiaries spanning Australia, New Zealand, India, New Caledonia, the United Kingdom, Hong Kong, Indonesia, China, Bermuda, and Singapore. Notable assets include BBC Hardware, Fosseys, Howard Smith, Loyalty Pacific, Tyremaster, Viking Direct, and World 4 Kids.

Other activities

The company holds a 50% ownership interest in investment firm Gresham Partners and participates in Gresham Private Equity Funds. Additionally, it has a half stake in Wespine—a softwood sawmill located in Dardanup—and maintains a 24% shareholding in BWP Trust, which primarily owns Bunnings Warehouses leased to Bunnings Group Limited.

Insurance

In June 2014, Wesfarmers sold its insurance broking and premium funding businesses—including OAMPS Insurance Brokers (Australia and UK), Crombie Lockwood (New Zealand), Lumley Finance, and Monument Premium Financing—to Arthur J. Gallagher & Co.. Shortly thereafter, it divested its insurance underwriting operations such as the WFI and Lumley brands to Insurance Australia Group.

Coles

On 2 July 2007, Wesfarmers announced its $22 billion acquisition of the Coles Group retail enterprise, marking the largest corporate takeover in Australian history. The transaction was completed on 23 November 2007 after securing nearly $20 billion worth of shares; an initial 13% stake had been acquired earlier that year.

Coles operated nationwide as a supermarket, department store, liquor outlet, fuel station, and convenience retailer. By September 2013, it managed 756 supermarkets, 810 liquor stores, 92 hotels, and 636 fuel and convenience locations. The acquisition also included Kmart and Target. Coles employed over 105,000 people and encompassed brands such as Coles Supermarkets, Coles Online, Coles Express, Vintage Cellars, First Choice Liquor Market, Bi-Lo, Coles Financial Services, and Liquorland.

Wesfarmers announced plans to spin off Coles on 16 March 2018. The demerger was finalized on 21 November 2018 with Wesfarmers retaining a 15% shareholding initially. This stake was reduced to 4.9% by 2020 and fully divested by April 2023.

Wesfarmers Resources

Wesfarmers Resources managed several open-cut coal mining operations across Australia, notably including the Curragh located in Queensland. The company withdrew from the coal industry by divesting its 40% interest in the Bengalla Joint Venture, which was sold to New Hope Corporation for $860 million on 3 December 2018.

Wesfarmers Transport

In 1950, Wesfarmers expanded its logistics presence by acquiring the Gascoyne Trading Company (GTC), which grew to become Western Australia's leading transport provider. Up until 1971, GTC maintained exclusive rights for direct road freight services between Carnarvon and Perth. Two years later, in 1973, Wesfarmers partnered with Downard through a joint venture to establish interstate freight forwarding operations linking Western Australia and Victoria.

GTC secured a 50% stake in Total West from Mayne Nickless in 1985. Wesfarmers took full control of Total West in 1996 and subsequently combined it with GTC to create Wesfarmers Transport. This transport division was eventually sold to Toll Holdings in 2001.

Company executives

Chairmen

1914–1916: Deane Hammond
1916–1921: Matthew Padbury
1921–1953: Walter Harper
1953–1965: Ernest Thorley Loton
1965–1975: Walter Crosse
1975–1982: Maurice Clayton
1983–1986: Marcus Beeck
1986–2002: Harry Perkins
2002–2008: Trevor Eastwood
2008–2015: Bob Every
2015–present: Michael Chaney

Chief executives / general managers / managing directors

1917–1925: Basil Murray
1925–1957: John Thomson
1958–1973: Keith Edwards
1974–1984: John Bennison
1984–1992: Trevor Eastwood
1992–2005: Michael Chaney
2005–2017: Richard Goyder
2017–present: Rob Scott

External links

Wesfarmers Limited