Danks acquire five Magnet Mart stores as part of owners Woolworths and Lowe's venture into hardware

Woolworths and its US-based home improvement partner Lowe’s have acquired a Canberra-based hardware chain, as part of their aggressive venture into the hardware arena.

The five stores, which trade under the name Magnet Mart, have been acquired by Danks, the hardware wholesaler that Woolworths and Lowe’s took control of last year.