Mitre 10 says it will consider a number of investment offers, including one from Metcash today, to maintain its status as an independent hardware retailer.

Wholesale grocery giant Metcash announced this morning it had joined the retailer battle for control of the country's hardware sector asstes by unveiling a takeover bid for the independent Mitre 10 chain.

Metcash, which supplies IGA supermarkets, did not disclose the terms of its offer other than to confirm an initial bid for 50.1 per cent of the chain, with the potential to extend to 100 per cent.

Mitre 10 chief executive Mark Burrowes said Metcash's bid “comes after several months of discussions with Metcash and other interested parties".

"These talks were part of an extensive process, initiated by the Mitre 10 board as part of its transformation program,” Mr Burrowes said in a statement.

Mr Burrowes said the company was searching for the most appropriate partner to allow the group to grow and remain Australia's “only truly independent” national hardware network.

"We are expecting a number of formal proposals from interested parties by close of business today and Mitre 10 will make further comment once the board of directors has fully evaluated all proposals."

Mitre 10 is the biggest independently owned home improvement chain in Australia, with more than 400 stores across the country.

The push by Metcash comes after Woolworths earlier this year announced a move into the sector, joining forces with US behemoth Lowe's to launch a friendly takeover bid for Danks Holdings.

Metcash chief executive Andrew Reitzer said the bid "provides a good opportunity to leverage our proven merchandising and brand management skills and world class logistics capability", which would ultimately benefit Mitre 10’s independent hardware retailers.

"Recent developments in the hardware sector have materially changed the landscape and outlook for independent operators," he said.

"Based on our experience and success in the competitive food and liquor sector, a Metcash backed Mitre 10 wholesaler will enable Mitre 10’s retail customers to compete more effectively in an increasingly competitive marketplace."