Wesfarmers Limited is an Australian conglomerate, headquartered in Perth, Western Australia. It has interests predominantly in Australia and New Zealand, operating in retail, chemical, fertiliser, industrial and safety products. With revenue of A$45.7 billion in the 2025 financial year,[1] it is one of Australia's largest companies by revenue. Wesfarmers is also one of the largest private employers in Australia, with approximately 118,000 employees.[1]
Wesfarmers was founded in 1914 as a co-operative to provide services and merchandise to Western Australian farmers. It was listed on the Australian Securities Exchange in 1984 and grew into a major retail conglomerate.
History
Westralian Farmers Co‐operative Limited was formed in 1914 as a cooperative company by the Farmers' and Settlers' Association of Western Australia, to acquire the assets of the West Australian Producers' Union, to be focused on the provision of services and merchandise to the Western Australian rural community. The word "Westralian" is a portmanteau of "western" and "Australian".[2][3] By 1919, more than 65 local co-operative companies were acting as agents for Westralian Farmers Limited.[4] In 1924, it established the first public radio station in Western Australia with 6WF, before it passed into the hands of the Australian Broadcasting Commission in 1929, now called ABC Radio Perth
The organisation was linked with the activities of the Co-operative Federation of Western Australia.[5]
By the 1940s, the company's business included "being wheat and general merchants; country distribution for Commonwealth Oil Refineries; wool, livestock, skin and produce auctioneers; grain & fruit exporters; insurance underwriters; acquiring agents for the wheat pool of W.A." Known as Westralian Farmers Limited, it had premises in various locations within the Perth central business district. In the 1940s the company had premises at 563-571 Wellington Street. It also had premises in Newman Street in Fremantle.
In 1949, Wesfarmers acquired Ashburton Transport, which at the time was lossmaking. The following year it also acquired its major competitor Gascoyne Trading, combining the operations of the two companies to supply the northwest of Western Australia. Along with wool and mail, it carted bananas from Carnarvon to Perth, returning with stores and mail from Perth. Gascoyne Trading introduced refrigerated transport to the region and three trailer road trains that now carry loads up to 115 tonnes.[6][7][8]
In 1979, Wesfarmers acquired a controlling interest in CSBP, the successor to Cuming, Smith & Co., a Melbourne-based fertiliser and chemicals manufacturer established in 1872. The takeover, valued at approximately A$60 million, was described at the time as the largest corporate acquisition in Australian history.[9][10]
In 1984, Westralian Farmers Co-operative Limited formed Wesfarmers Limited, restructuring from a co-operative to a public company and listed on the Australian Securities Exchange on 15 November 1984. Initially the Co-operative retained 60% of the ordinary shares, guaranteeing that the co-op's farmer members retained control, and the rest was distributed to its members.[11]
In 1986, Wesfarmers completed the acquisition of CSBP by purchasing BP’s remaining stake, thereby assuming full ownership.[12]
In 1991, 19 m3 of the records of Westralian Farmers Co-operative were deposited with the J S Battye Library in Perth.
Rural business, Dalgety Farmers and Wesfarmers Landmark
Bought in January 1993 the integration of Dalgety Farmers with Wesfarmers proved more difficult than expected. For a time the merged rural agency and merchandise business was Wesfarmers Dalgety until renamed Wesfarmers Landmark in March 2001 after IAMA Limited was brought in. Landmark, Wesfarmers foundation business, was sold to AWB Limited (originally the Australia Wheat Board) in August 2003.[13]
Bunnings
An initial investment in 10 percent of Bunnings in February 1987 reached full ownership in January 1994. Bunnings bought UK retailer Homebase in February 2016 and Britain's first Bunnings store opened twelve months later in February 2017.[13] They were 265 well-located stores and Wesfarmers believed Bunnings' management would greatly improve their modest profits. The plan was to make changes gently but tactics changed and local management, perceived as under-performing, was removed and replaced by expatriate management.
Divisions
Bunnings
Bunnings is a retailer of home improvement and outdoor living products, servicing home and commercial customers in Australia and New Zealand. They have 511 locations, including large warehouse stores, smaller format stores and trade centres.[1][15] Bunnings employs more than 53,000 staff.[1]
In January 2016, Home Retail Group accepted an offer from Wesfarmers to acquire the British home improvement retailer and garden centre Homebase for $704 million. Stores in the United Kingdom and Ireland began to be rebranded as Bunnings following the takeover.[16] However, following Wesfarmer's sale of Homebase to
Former interests
Insurance
On 16 June 2014, Wesfarmers completed the sale of its insurance broking and premium funding operations, including OAMPS Insurance Brokers in Australia, OAMPS UK, Crombie Lockwood in New Zealand, Lumley Finance and Monument Premium Financing to Arthur J. Gallagher & Co.[34] On 30 June 2014, Wesfarmers completed the sale of its insurance underwriting operations, including the WFI and Lumley brands, to the Insurance Australia Group.[35]
Coles
On 2 July 2007, Wesfarmers announced it was purchasing the Coles Group retail business for $22 billion making it the largest successful take-over in Australian corporate history. Wesfarmers took control of Coles on 23 November 2007, after paying almost $20 billion for the company. Wesfarmers had already purchased 13 per cent of the retailer in April.
Company executives
- Chairmen[55]
- 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
Further reading
- Smith, Kevin P.(1984) A bunch of pirates: the story of a farmer co-operative: Wesfarmers Perth, W.A : Westralian Farmers Co-operative. ISBN 0-9591897-0-X
- (2003) 50 years of powering Western Australia : from Western Colleries to Wesfarmers Coal. Collie, W.A.: Wesfarmers Premier Coal.
- Thompson, Peter (2014) Wesfarmers 100: The People's Story 1914-2014 Perth, W.A. ISBN 9781742584997
External links
References
- Annual Report 2025 www.wesfarmers.com.au, retrieved 2026-01-15^
- Farmers and Settlers' Association of Western Australia The Midlands Advertiser, 7 November 1913, retrieved 14 January 2016^
- See Western Australian Farmers Federation for the relationship between the Co-operative and the CBH Group