HARDWARE STORES

Century-old hardware store to close in New Jersey

BY HBSDEALER Staff

True Value member Point Hardware and Gifts, of Point Pleasant Beach, N.J., will be closing its doors by the end of the year, according to the Asbury Park Press.

Owner Bob Wehner has owned the Jersey Shore hardware store for 20 years, but the location of the store has housed hardware retailers for more than a century, according to the article.

Wehner cited the slow economy as the reason for shuttering.

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Tim-Br Marts acquires CanWel Hardware

BY HBSDEALER Staff

Calgary, Alberta-based Tim-Br Marts, one of Canada’s largest independent lumber, building material and hardware buying groups, announced it has entered into an agreement to acquire CanWel Hardware from CanWel Building Materials Group.

Financial terms of the agreement were not disclosed.

The agreement includes two hardware distribution operations in Victoriaville, Quebec, and London, Ontario, as well as two Chalifour building material warehouses in Quebec. It also provides Tim-Br ownership of the Pro name as well as licensing rights to the Ace brand in Canada.

“This is a turning point for our Company,” said Tim Urquhart, president and CEO of Tim-Br Mart. “With this acquisition we will further empower our network of strong independent Tim-Br Mart dealers. They are the leading purchasers of building materials in Canada, and now they will be the leaders in hardware as well.”

Urquhart emphasized the acquisition will not disrupt supply from the four warehouses.

“It is business as usual actually; we aim to be better than usual,” he commented.

In business since 1967, Tim-Br Mart represents more than 700 dealer locations across Canada, more than $2 billion in annual purchases.

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Sears promotes online sale

BY HBSDEALER Staff

Anew Craftsman impact driver received top billing of an e-mail marketing campaign launched Tuesday to promote a three-day online sale for Sears.com.

The online sale, running through Oct. 7, offers $10 off orders of $75 or more. The Craftsman right angle impact driver received top billing. The tool is described as lightweight, maneuverable and powerful.

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