Benjamin Moore will purchase assets of New York manufacturer
Benjamin Moore will purchase select assets and brands of Insl-x Products, a coatings manufacturer based in Stony Point, N.Y.
Terms of the deal were not disclosed.
According to Denis Abrams, president and CEO of Benjamin Moore, the acquisition is a strategic move that provides Benjamin Moore with several brands and coatings products, including Insl-x, Coronado, Bruning, Trinity Lacquers and Lenmar.
“This acquisition allows Benjamin Moore to expand its overall product portfolio assuring that our customers remain strong and profitable,” Abrams said in a press statement. “We are pleased that the Insl-x company will continue to operate under the guidance of its president, Jim Weil, whose father founded the company in 1960.”
Abrams also noted, “moving forward, the Insl-x service team and Insl-x product offerings will remain intact.” Benjamin Moore also said Insl-x’s management team and the company’s employees will continue in their current positions, and manufacturing and distribution of all Insl-x products will continue at their respective locations.
Benjamin Moore, a Berkshire Hathaway company, is based in Montvale, N.J.
Tim-Br Marts hires new vp-finance
Calgary, Alberta-based Tim-Br Marts has announced the appointment of Mike Powell to vp-finance, effective Dec. 10.
Powell formerly worked with waterproofing products company IKO Industries for 13 years. He most recently served as vp and general manager for Star Building Materials.
In his new position, Powell will be responsible for overseeing and managing company finances. He will be based in the company’s Calgary office.
Tim-Br Marts had 2006 retail sales of $3.4 billion Canadian (US$3.35 billion).
Home Depot launches new format in Canada
Home Depot Canada has announced the launch of a newly designed “project store” in Richmond Hill, just north of Toronto. The 115,000-square-foot unit, which opens on Dec. 13, has been reoriented to address the construction and design needs of home remodeling projects. Among the new features are five dedicated service desks staffed by specially trained associates who can help customers with entire projects, including installation.
Electronic kiosks will provide access to homedepot.ca and the ability to place special orders, book installations and look up prices. Throughout the store, customers will also have access to “We Can Help” stations with call boxes, tapes measures, paper and pencils and promotional materials.
In addition to an 18,000-square-foot garden centre, the redesigned store features six new showrooms that will change with every season.
This week’s unveiling of the redesigned store, located in one of the wealthiest suburbs of Ontario, coincides with the entrance of Lowe’s into Canada. Home Depot’s retail rival opened three units in the Toronto suburbs on Dec. 10.