Crown Bolt comes back to Home Depot
HD Supply and The Home Depot today announced they have entered into an agreement for The Home Depot to purchase substantially all of the assets of HD Supply Hardware Solutions, formerly known as Crown Bolt, a leading supplier of fasteners and builders hardware to retailers in the United States.
Terms of the deal were not disclosed. The transaction is expected to close by the end of fiscal year 2014 subject to obtaining customary regulatory approvals.
"After a detailed evaluation, we determined that selling our Hardware Solutions business is in the best interests of our associates and HD Supply shareholders," said Joe DeAngelo, CEO of HD Supply. "HD Supply Hardware Solutions and The Home Depot have a long-standing and natural partnership. The Home Depot is Hardware Solutions’ largest customer and accounts for approximately 98 percent of its annual sales."
HD Supply Hardware Solutions was The Home Depot’s 2013 Hardware Vendor of the Year, recognized for providing top-notch service and quality to The Home Depot stores.
"Our companies have had a long-standing relationship," said Craig Menear, CEO and president, The Home Depot. "By formally bringing the business into The Home Depot family, we expect to further enhance our supply chain capabilities and hardware product offerings."
HD Supply split off from Home Depot in August of 2007.
GAF and Jesse the Jack Russell Terrier honored
Jesse the Jack Russell Terrier starred in an award-winning commercial featuring Wayne, New Jersey-based GAF roofing products.
The Academy of Interactive and Visual Arts gave a Gold Award and Silver Award in the categories of “Film and Video and “Commercials” to GAF for its commercials, in which the spirited dog shows courage, cunning and even computer skills in the face of threatening weather.
The Davey Awards program is judged by the Academy of Interactive and Visual Arts, a 600-plus member organization of leading professionals from various disciplines of the visual arts.
GAF’s award-winning entries can be seen below.
Eagle Materials names Michael Haack as COO
Eagle Materials has tapped Michael Haack to fill the new COO role, which was created to service the company’s recent wave of growth and expansion in construction and energy-related markets.
He joins the company following a 17-year stint with Halliburton Energy Services, where he most recently served in a management role within Global Operations for Sperry Drilling. The multi-billion dollar company has operations in every major oil and gas market.
“We are proud to have such a high-caliber and experienced individual as Michael joining the Eagle team," said president and CEO Steve Rowley. "His placement in this newly created position is timely given our growth progress and strategic aspirations. Michael’s experience will be especially valuable given our growth into energy-related markets, most notably in frac-sand and specialty oil-well casing cement. This represents a significant step in the expansion of our strong operating leadership team and is aimed at ensuring the long-term continuity of Eagle’s enviable performance track record."
In his new role, Haack will report directly to Rowley.