Operations are based on a cooperative system, where the store owners are members of the national group and each has voting rights.

The move to set up a co-operative group of hardware stores originated from a meeting of seven men who would become Mitre 10's founders – Tom Molomby, Tom Danaher, Reg Buchanan, Jack Womersley, Ian Nisbet, Bill Davey and Bill Wilson – held at Buchanan's home in Balwyn, Victoria, on 29 June 1959.

[4] This move occurred specifically to maximise funds and energy with regards to advertising and promotions and to demonstrate that independent operators offered service, advice and competitive prices.

Queensland soon followed with seven retailers, under the chairmanship of Arthur Scurr, joining the cooperative in January 1962, followed by a further 16 members from Newcastle in October the same year.

[5] In June 2004 Mitre 10 Australia opened its first "destination hardware" or "big-box" chain at Beenleigh, Queensland.

UBS analysts said Metcash had been on lookout for a "fourth pillar" for some time to add to its operations, and that Mitre 10 might be perfect.

[10] Mega was Mitre 10's "destination hardware," or "big-box," chain; it was designed as a one stop shop for big projects, to compete with Bunnings.