The demerged Astivita company was essentially run by younger...

The demerged Astivita company was essentially run by younger members of a directors family. You will note that while running under its own banner it was selling personal care products and sunscreen. These products were related to Advanced Zinc (ANO) which had facilities allowing Astivita to develop possible personal care products of an organic nature which would sell online thru the Astivita banner. I always had the impression it was demerged to give the younger family members a chance to prove themselves in setting up a market for products using the ANO zinc materials and develop compatible personal care products to enhance the range. This is only IMO so you can take that line or dismiss it as me overthinking. Over the Covid period and the shutting down of beachgoing and tourism the sunscreen sales and building products generally (not just Astivita products) were decimated and Astivita obviously suffered along with most other retailers. TWD originally ran the Astivita business as a subsidiary thru which it supplied both TWD as well as other builders with products using wholesale capability and volume. This is not uncommon with the larger project builders(eg Fairmont Homes in SA). Essentially they have bought it back to continue with what was the arrangement before the demerger. I have copied a few lines from reports including the 2009 annual report for TWD to ensure you understand the TWD angle on it.
AstiVita De-merger
The Board’s decision to de-merge AstiVita from the Group was primarily based on the belief that greater market
transparency should enable a realistic equity value to be attributed to AstiVita, unlocking the shareholder value
embedded in the business.
Furthermore, as an independent, standalone business, its Board and management can have a more focused
capital and dividend policy, management and employee incentives can be more appropriately aligned to
shareholder outcomes, and greater strategic and financial flexibility to pursue growth and product initiatives exist.
Accordingly, the Board is confident that for the above reasons and given an enhanced focus on the core
business of AstiVita, the company is more likely to achieve superior economic returns to its owners than if it
were to remain a member of the Group.

'AstiVita Limited imports and distributes household and renewable energy products in Australia. The company offers bathroom products, photovoltaic panels, and personal care products, as well as sunscreen and oral hygiene products. It also provides kitchen products, appliances, basins, hot water solar and photovoltaic inverters, stainless steel sinks, tapware products, and toilet suites. The company was formerly known as AstiVita Renewables Limited'