 The McEwans hardware stores group was divested in a management buyout in 1988.At this time, the company merged its Harris Scarfe and FitzGerald's retailing operations, which continued to grow to become Australia's third largest department store group.It also once owned interests in Perpetual Insurance and Securities, owner of Eastlands Shopping Centre which increased from 83 % to 91 % in 1973-1974 and also in Co-Operative Motors Ltd, manufacturer of Toyota, Triumph Motor Company, Mercedes Benz and Rambler.