Wesfarmers facts for kids
Wesfarmers Limited is a large Australian company that owns many different businesses. Its main office is in Perth, Western Australia. Wesfarmers has businesses mostly in Australia and New Zealand. They work in areas like retail (selling things to people), chemicals, fertilisers, and industrial and safety products.
In 2023, Wesfarmers made about A$43.5 billion, making it one of Australia's biggest companies. It's also one of the largest private employers in Australia, with around 107,000 people working for them.
Wesfarmers started in 1914 as a "co-operative." This means it was owned and run by its members, who were mostly farmers. Its goal was to help farmers in Western Australia by providing services and goods. In 1984, Wesfarmers became a "public company," which means its shares can be bought and sold by anyone on the stock exchange. After this, it grew into a major retail company.
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Trade name
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Wesfarmers |
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| Public | |
| Traded as |
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| Industry | Conglomerate |
| Founded | 1914 |
| Headquarters | Perth, Western Australia |
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Area served
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Key people
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| Revenue |  $30.8 billion (2020) |
 $1.6–2.1 billion (2020) |
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| Total assets | $25.4 billion (2020) |
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Number of employees
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107,000 (2020) |
| Subsidiaries |
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| Footnotes / references Subsidiaries according to the Wesfarmers 2020 Annual Report |
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Contents
Company History
The company started in 1914 as Westralian Farmers Co‐operative Limited. It was formed by the Farmers' and Settlers' Association of Western Australia. Their main goal was to offer services and goods to farmers in Western Australia. By 1919, many local co-operative companies were working as agents for Westralian Farmers Limited.
In 1924, the company started the first public radio station in Western Australia, called 6WF. This station later became part of the Australian Broadcasting Corporation.
By the 1940s, the company was involved in many different businesses. They were wheat and general merchants, wool and livestock auctioneers, and even insurance providers. They had offices in different parts of Perth and Fremantle.
In 1949, Wesfarmers bought Ashburton Transport. The next year, they also bought a major competitor, Gascoyne Trading. They combined these companies to deliver goods to the northwest of Western Australia. They transported bananas from Carnarvon to Perth and brought back supplies. Gascoyne Trading was one of the first to use refrigerated trucks and large "road trains" that can carry very heavy loads.
In 1984, Westralian Farmers Co-operative Limited changed its structure. It became a "public company" called Wesfarmers Limited and was listed on the Australian Securities Exchange on November 15, 1984. This meant that people could buy shares in the company.
Bunnings Stores
Wesfarmers first invested in Bunnings in 1987. By 1994, they owned the entire company. Bunnings is a very popular store for home improvement and outdoor living products.
In 2016, Bunnings bought a UK store chain called Homebase. They tried to change these stores to Bunnings, but it didn't work out well. The changes didn't appeal to the customers, and the stores started losing money. In 2018, Wesfarmers sold Homebase, which resulted in a big financial loss for the company.
Becoming a Public Company
In 2001, Wesfarmers became a fully public company. This meant anyone could buy and sell its shares freely. After this, Wesfarmers started buying many other businesses to grow and expand its interests.
Wesfarmers Businesses Today
Wesfarmers has several major divisions, each with different types of businesses.
Home Improvement and Office Supplies
This division includes two well-known retailers:
- Bunnings Warehouse: This store sells products for home improvement and outdoor living. It serves both regular customers and businesses in Australia and New Zealand. There are over 210 large Bunnings "warehouse" stores, 67 smaller stores, and 36 Bunnings Trade centres. Bunnings employs more than 33,000 people.
- Officeworks: This store sells office products for homes, businesses, and schools in Australia. There are 171 Officeworks stores, and they employ over 8,000 staff. In 2019, Officeworks also bought Geeks2U, a company that provides computer and technology help.
Kmart Group
The Kmart Group includes two popular department store chains:
- Kmart: This is a discount department store with over 300 locations in Australia and New Zealand. Kmart employs more than 42,000 people.
- Target: This is a mid-level department store in Australia. Target employs more than 12,000 staff. It's important to know that Target Australia is not connected to the Target stores in America.
In 2019, Wesfarmers also bought Catch Group, which runs the online shopping website catch.com.au. This business is now part of the Kmart Group.
Industrials
This division brings together three industrial businesses:
- Wesfarmers Chemicals, Energy & Fertilisers (WesCEF): This part of the company makes and sells chemicals, fertilisers, and gas products. They have factories in Western Australia and Queensland that produce things like ammonia, ammonium nitrate, and sodium cyanide. They also distribute LPG and LNG gas across Australia. WesCEF employs over 1,200 people.
- Wesfarmers Industrial and Safety: This business provides industrial and safety products and services in Australia and New Zealand. They own brands like Blackwoods, Coregas, and Workwear Group (which includes King Gee and Hard Yakka). They also have 32 stores in New Zealand, branded as NZ Safety Blackwoods.
Health
In 2022, Wesfarmers bought Australian Pharmaceutical Industries (API). This company runs pharmacies like Priceline Pharmacy. This purchase created a new healthcare division for Wesfarmers. In 2023, Wesfarmers also agreed to buy InstantScripts, a company that provides online health services.
Other Businesses
Wesfarmers also has full ownership in many other companies across different countries. These include businesses like flybuys (a loyalty program), and interests in timber production and property trusts.
Past Businesses
Wesfarmers has owned and later sold several other major businesses over the years.
Insurance
In 2014, Wesfarmers sold its insurance businesses. This included companies that provided insurance broking and underwriting services.
Coles Supermarkets
In 2007, Wesfarmers made a very big purchase by buying the Coles Group retail business for $22 billion. This was the largest company takeover in Australian history at the time. Coles included supermarkets, liquor stores, hotels, and fuel stations. When Wesfarmers bought Coles, they also acquired Kmart and Target, which were part of the Coles Group.
However, in 2018, Wesfarmers decided to separate Coles from its main company. This process was completed in November 2018. Wesfarmers kept a small share in Coles for a while but sold off its last shares in 2023.
Coal Mining
Wesfarmers used to own and operate coal mines in Australia, including the Curragh coal mine in Queensland. In 2018, Wesfarmers sold off its coal mining businesses.
Transport
Wesfarmers was once a major transport operator in Western Australia. In 1950, they bought the Gascoyne Trading Company, which grew to be the largest transport company in the region. They transported goods between Carnarvon and Perth. In 2001, Wesfarmers sold its transport business to Toll Holdings.
Company Leaders
Here are some of the people who have led Wesfarmers over the years:
- 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
