Integration Risks Loom as Hancock & Gore Rebrands and Expands Globally
Hancock & Gore Limited has completed its acquisition of Trutex Group, setting the stage for a strategic rebrand as Schoolblazer Limited and targeting $200 million in pro-forma revenue. The move aims to create a global leader in school uniforms with expanded scale and leadership.
- Acquisition of Trutex Group for A$16.9 million in cash
- Rebranding to Schoolblazer Limited pending shareholder approval
- Pro-forma combined revenue target of $200 million and $25 million EBITDA
- Leadership changes with Tim James appointed Executive Chairman
- Acquisition immediately accretive to earnings per share in FY26
A Strategic Leap in School Uniforms
Hancock & Gore Limited (H&G) has taken a decisive step to reposition itself as a global powerhouse in the school uniform sector with the acquisition of the UK-based Trutex Group. This move not only broadens H&G’s international footprint but also consolidates its presence across key markets including the UK, Australia, New Zealand, and beyond.
The acquisition, completed in an all-cash deal valued at A$16.9 million, is expected to be immediately accretive to earnings per share in the 2026 financial year. By combining Trutex with its existing businesses; Schoolblazer UK and Mountcastle; H&G is targeting a pro-forma revenue of $200 million and EBITDA of $25 million, factoring in anticipated synergies and operational efficiencies.
Rebranding and Leadership Evolution
Reflecting this strategic pivot, H&G will seek shareholder approval to rename itself Schoolblazer Limited, aligning the corporate identity with its core schoolwear operations. The unified group, to be known as Schoolblazer Group, will leverage the strengths of its constituent brands to drive growth and innovation in the global school uniform market.
Leadership changes accompany this transformation. Tim James, co-founder of Schoolblazer UK and H&G’s largest shareholder, will expand his role to Executive Chairman of the combined group. His deep industry experience and passion for the sector are expected to guide the company through its next growth phase. Meanwhile, Steve Doyle, who has been instrumental in building the group, will step down, marking the end of a transformative era.
Growth Strategy and Financial Reporting
Looking ahead, Schoolblazer Limited aims to capitalize on scale efficiencies, optimize supply chains, and enhance digital and branding capabilities to fuel global sales growth. The company plans to continue winning private school contracts in Australia and New Zealand, leveraging its innovative Schoolblazer model and Limitless brand.
From October 2025, the company will adopt fully consolidated financial reporting to reflect the integrated operations of the combined entities, providing greater transparency and clarity for investors.
Overall, this acquisition and rebranding signal a clear strategic intent to dominate the school uniform market globally, supported by a streamlined platform and strengthened leadership.
Bottom Line?
Schoolblazer Limited’s bold repositioning sets the stage for accelerated growth, but integration execution will be key to unlocking full value.
Questions in the middle?
- How smoothly will the integration of Trutex unfold across diverse international markets?
- What specific digital and supply chain innovations will Schoolblazer deploy to drive growth?
- How will the market respond to the rebranding and leadership changes in the near term?
