Guthrie Bowron was founded in 1896 and had grown its franchised store network to around 50 stores nationwide.
Waterman was attracted to Guthrie Bowron’s strong market position in its key paint and wallpaper categories, its stable sales history, strong cash flows and the potential to add new product categories leveraging the brand and existing core competencies. The vision was to evolve the business from a paint and paper store to a full service home decorating specialist.
During Waterman’s period of ownership Guthrie Bowron leveraged its strong market positions in paint and wallpaper to become a leading player in the curtain market. It also launched a national roll-out of the adjacent flooring category, which offered significant long-term growth potential.