Allied Farmers buys Hawera Mitre 10

Listed rural services firm Allied Farmers has bought the Mitre 10 store in Hawera for an undisclosed sum.

The privately owned Mitre 10 has operated next to Allied Farmers' merchandise store for the past four years.

Allied Farmers said the purchase would allow it to expand its customer base in Hawera and increase the range of products available to clients in South Taranaki.

"There will be benefits gained from the combination of these complementary businesses on one site," Allied Farmers said in a statement.

Shares in Allied Farmers last traded yesterday at a year low of $2.15.

- NZPA