Tom Edwards (left) with Ipswich mayor Paul Pisasale and Anne-Maree Edwards at the opening of R.T. Edwards’12th store at Booval last year.

Retravision Northern has suffered a major blow with the sale of the $100 million R.T. Edwards group to privately-owned Adelaide-based electrical appliance group Radio Rentals SA.

The South Australian company is owned by the Walker family and is not connected with the publicly-listed firm of the same name (Radio Rentals) that operates nationally.

R.T. Edwards managing director Tom Edwards said that it is business as usual for the company that has been serving the Queensland market since 1931. The company is estimated to account for a sizeable percentage of Retravision’s buying power and has been a member of the group for around 40 years.

Business as usual
“The new ownership will be the only major change to the business.  It will otherwise be business as usual trading under the familiar name RT Edward,” he said.

The new owner is a South Australian family company – owned by Peter and Barry Walker – that operates a similar electrical and furniture goods retail firm with a similar culture to RT Edwards’ long history and customer focus.

The South Australian company has been trading for more than 50 years and is that State’s biggest electrical retailer with 18 stores and a clearance centre.

The new owner offers stability and opportunities for RT Edwards staff and customers, Edwards said.

“Both families have been working together to make the transition as seamless as possible. The new owner will give to every staff member a letter of offer to continue with the business and reassure them there will be no loss of entitlements, wages or conditions because of the change of ownership,” he said.

Business started in 1931
Edwards, whose father Roy started the business in 1931 selling electrical services throughout the Ipswich region on his bicycle added: “We are very proud of the great work being done throughout all divisions – retail, warehouse, admin, merchandising, service and rural.  While the economic climate is challenging the company is strong and performing well exceeding a turnover of $100 million.”

Edwards said the buy-in process was a “win-win” for two like-minded families and for the staff and customers of RT Edwards.

“The transition could not be smoother – it is wonderful to know that our much-loved business will be run by a family that holds similar values to us and operates a similar business in South Australia,” Edwards said.

Cameron Crowell to manage Queensland
Cameron Crowell, a local Queenslander who grew up in Warwick, will move with his family from Adelaide to Ipswich to manage the business locally.

“It will be business as usual this week at RT Edwards’ stores,” Crowell said.

“I am looking forward to moving back home to Queensland with my family after relocating to Adelaide seven years ago.

“RT Edwards is a great company with great people and it has had a strong connection with the local community for many years.  We look forward to continuing the traditional service and providing quality electrical and furniture products in the Ipswich region,” he said.