Mitre 10 has taken a 49% stake in Queensland's Sunshine Hardware as it attempts to become larger and more competitive via acquisitions.

Mitre 10’s biggest competitor is Wesfarmers-owned Bunnings, and it also vies for consumer dollars with Danks Holdings, which owns Thrifty Link and Home Timber and Hardware.

The Australian Financial Review notes that accounts lodged with the Australian Securities and Investments Commission show that Mitre 10's revenue increased to $563 million from $540.8 million in the second-half of last year. 

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