Jul 1, 1914 CE
Wesfarmers Founded as Cooperative
Wesfarmers was established in Perth as a cooperative society of farmers to secure better prices for supplies. It began with a capital of £8,000 from 42 members. #business #history
Chronological Storyline (33 Milestones)
1917 CE
First Coal Mine Acquired
Wesfarmers entered the coal mining industry by acquiring a lease at Collie, Western Australia. This diversified the cooperative beyond agricultural supplies. #mining #energy
1920 CE
Expansion into General Merchandise
The cooperative broadened its product range to include hardware, fencing, and other rural merchandise. This growth supported the agricultural community and increased revenue. #retail #agriculture
1948 CE
Entry into Insurance
Wesfarmers launched an insurance division to provide coverage for farmers and the broader community. This marked a key step into financial services. #insurance #finance
1950 CE
Acquisition of Chemical Business
Wesfarmers acquired a chemical manufacturing business, expanding into industrial and agricultural chemicals. This strengthened its supply chain for farming inputs. #chemicals #agriculture
Oct 1, 1960 CE
Name Change to Wesfarmers Limited
The cooperative converted to a public company limited by shares, adopting the name Wesfarmers Limited. This structural change enabled broader capital raising. #corporate #structure
Oct 25, 1984 CE
Listing on Australian Stock Exchange
Wesfarmers listed on the ASX, raising capital to fund expansion. The float was oversubscribed, reflecting strong investor confidence. #finance #IPO
1986 CE
Acquisition of BP Australia's Coal Interests
Wesfarmers purchased the coal assets of BP Australia, significantly expanding its energy division. This deal increased coal production capacity. #mining #energy
Jan 1, 1992 CE
Michael Chaney Appointed CEO
Michael Chaney became CEO, spearheading a diversification strategy that transformed Wesfarmers into a conglomerate. His leadership drove major acquisitions. #leadership #corporate
Oct 28, 1994 CE
Acquisition of Bunnings
Wesfarmers acquired Bunnings Warehouse, a leading hardware retailer, for $195 million. This entry into retail would become a core profit driver. #retail #hardware
1999 CE
Acquisition of Howard Smith's Hardware Assets
Wesfarmers bought the hardware business of Howard Smith, adding to its Bunnings network. This consolidated its position in the hardware market. #acquisition #retail
Sep 1, 2001 CE
Demerger of Bunnings Group
Wesfarmers demerged its Bunnings hardware division into a separate listed entity, Bunnings Group Limited. Wesfarmers retained a majority stake but focused on other ventures. #demerger #corporate
2002 CE
Acquisition of Dalrymple Bay Coal Terminal
Wesfarmers acquired a 50% stake in the Dalrymple Bay Coal Terminal in Queensland, enhancing its coal export infrastructure. This secured capacity for its coal production. #mining #infrastructure
Nov 1, 2005 CE
Richard Goyder Becomes CEO
Richard Goyder succeeded Michael Chaney as CEO, leading Wesfarmers through a period of major expansion including the Coles acquisition. #leadership #succession
2006 CE
Acquisition of the Australian Gas Light Company (AGL) Assets
Wesfarmers purchased the retail energy business of AGL, expanding into utilities. This added gas and electricity retailing to its portfolio. #energy #utilities
Apr 2, 2007 CE
Acquisition of Coles Group
Wesfarmers acquired Coles Group for $20 billion, gaining supermarkets, Kmart, Target, and Officeworks. This made Wesfarmers a retail giant. #retail #acquisition
2008 CE
Integration of Coles and Restructuring
Wesfarmers merged Coles into its operations, implementing efficiency programs and rebranding. The integration faced challenges but improved profitability. #integration #retail
2010 CE
Sale of Insurance Broking Business
Wesfarmers sold its insurance broking division to focus on core retail and industrial businesses. This streamlined the portfolio. #divestiture #insurance
2011 CE
Acquisition of the Remaining Stake in Bunnings
Wesfarmers fully acquired Bunnings Group by buying out minority shareholders, bringing the hardware chain back under full ownership. This simplified the corporate structure. #retail #acquisition
2013 CE
Launch of Wesfarmers OneDivision
Wesfarmers restructured its industrial and safety division into Wesfarmers OneDivision, providing industrial supplies and safety equipment. This enhanced focus on the industrial sector. #industrial #restructuring
2014 CE
Centenary Celebrations
Wesfarmers celebrated 100 years of operation, commemorating its journey from a small cooperative to a diversified conglomerate. Events included community initiatives and financial milestones. #anniversary #centenary
2015 CE
Acquisition of Homebase in the UK
Wesfarmers acquired Homebase, a UK home improvement chain, to expand Bunnings internationally. The move proved challenging due to market differences. #international #retail
2016 CE
Sale of Coal Assets to Yancoal
Wesfarmers agreed to sell its coal mining assets to China's Yancoal for $2.69 billion, exiting the energy sector to focus on retail and industrial. #divestiture #mining
Nov 1, 2017 CE
Rob Scott Appointed CEO
Rob Scott became CEO, succeeding Richard Goyder, and initiated a portfolio review leading to divestments and a shift toward retail and industrial services. #leadership #management
May 1, 2018 CE
Exit from Coal Mining Completed
The sale of the last coal assets to Yancoal was finalized, marking Wesfarmers' complete exit from coal mining. This aligned with environmental concerns and strategic focus. #environment #mining
Jun 1, 2019 CE
Acquisition of Catch Group
Wesfarmers acquired Catch Group, an Australian online marketplace, to boost its e-commerce capabilities. This was part of a strategy to compete with Amazon. #ecommerce #retail
Mar 1, 2020 CE
COVID-19 Impact and Operational Changes
Wesfarmers' retail businesses saw surging demand during the pandemic, while industrial segments faced disruptions. The company adapted with safety measures and digital acceleration. #pandemic #retail
May 17, 2021 CE
Sale of Homebase in the UK
Wesfarmers sold Homebase to Hilco Capital for a nominal sum, exiting the UK market after significant losses. This ended its international retail expansion. #divestiture #international
Jul 1, 2022 CE
Demerger of Coles Group
Wesfarmers demerged its Coles supermarkets division into an independent entity, Wesfarmers' shareholders received shares in the new company. This simplified the corporate structure. #demerger #retail
Mar 1, 2023 CE
Acquisition of InstantScripts
Wesfarmers acquired InstantScripts, an Australian telehealth and digital prescription platform, expanding into healthcare services. This diversified its portfolio further. #healthcare #digital
Jun 1, 2024 CE
Full Acquisition of MT Arthur Coal
Wesfarmers sold its remaining 30% stake in MT Arthur Coal to Yancoal, completing its exit from all coal assets. This was part of a long-term plan to reduce carbon exposure. #environment #divestiture
Dec 1, 2024 CE
Record Annual Profit Announcement
Wesfarmers reported a record after-tax profit of $2.5 billion for FY2024, driven by strong performance in Bunnings and Officeworks. This highlighted its retail strength. #finance #earnings
Feb 15, 2025 CE
Expansion of Lithium Investments
Wesfarmers invested $500 million in lithium mining projects in Western Australia to capitalize on green energy demand. This marked a return to mining with a focus on critical minerals. #mining #energy