Handy Hardware approached by possible buyers
Houston-based Handy Hardware Wholesale has received acquisition overtures, according to a memo to dealers from the co-op’s board of directors.
No formal offers have been made, and none was solicited, the board said in the March 28 letter obtained by HCN. Handy did not immediately respond to an HCN request to reveal the identity of the two companies that made overtures.
Handy filed for bankruptcy protection in January and submitted a plan for reorganization in March.
While the board says it is focused on the goal of emerging from bankruptcy as a member-owned hardware co-op, the board has a legal and fiduciary responsibility to share information regarding a possible purchase, the letter explained.
“The BOD is required by the bankruptcy process to seriously evaluate and consider any options presented,” the letter states. “However, the BOD remains committed to the preservation of our cooperative in order to ensure the long-term benefits that we have all come to depend upon from Handy.”
Under the informal proposals in question, Handy would operate as a subsidiary of or be consolidated into another distributor, the letter explained. “Handy’s current members would be encouraged to remain on as customers, but it would mean that our members likely would have no ownership or control over the business,” the letter states.
The March 28 further encouraged Handy members to support the co-op by buying more from Handy.
Handy’s board of directors includes Virgil Cox, Ike Epstein, Suzanne Elliott, Chris Court, Bob Wyrick, Ken Blackmon and Tommy Chauvin.
Golden Hammer strikes for Rocky’s Ace Hardware
Rocky’s Ace Hardware, the Springfield, Mass.-based hardware store company with 33 stores in five states, will accept the Retailer of the Year Award during the 2013 Golden Hammer Awards breakfast ceremony in Las Vegas, May 8, during the National Hardware Show.
The award recognizes a home improvement retail company for its operational success, as well as its commitment to best practices and industry values of quality and service.
Rocky’s Ace Hardware has been in continuous operation under the same family ownership since 1926, when the first store opened in Springfield.
"Home Channel News has for a long time admired Rocky’s Ace Hardware," said Ken Clark, editor of Home Channel News. "It’s a family business with a great history, an eye on the future and an ability to grow."
In November, the company expanded its store count to 33 with an opening in Fairhaven, Mass. Rocky’s stores also operate in Connecticut, New Hampshire, Rhode Island and Florida. The company says its particular strengths include paint, outdoor power, pet and lawn and garden.
The company’s recently launched Re-Discover Rocky’s campaign attempt to connect with new and existing customers by hammering the message of product assortment and knowledge in the areas of grills, paint, tools and lawn, in addition to traditional hardware.
Rocky’s also hit a home run with its Second Annual Pet Food Drive. “The efforts our store team members in rallying behind this worthy cause, along with the outstanding generosity of our customers, resulted in an unprecedented overall donation to local, community-based shelters and humane societies,” said Geoffrey Webb, director of marketing and advertising. The program resulted in more than 6,500 lbs. of food being donated for needy animals.
Recent honorees include Aubuchon Hardware (2012), Westlake Hardware (2011), Marvin’s Home Centers (2009) Tractor Supply Co. (2007).
For information about the National Hardware Show, click here.
House-Hasson plans dealer market in East Tennessee
Knoxville, Tenn.-based House-Hasson Hardware will bring thousands of visitors to East Tennessee as its largest annual event comes to resort town of Sevierville.
House-Hasson, self-described as the “nation’s largest independent regional hardware distributor,” expects some 600 to 800 hardware store owners and their families to attend the June 20-22 event. The event will be headquartered at the Wilderness at the Smokies Resort in Sevierville.
“We’re making Sevierville the site for our summer market because our dealers — the hardware store and lumberyard owners we serve — love coming to East Tennessee,” said Don Hasson, president of House-Hasson Hardware. “They make a vacation out of the trip and combine very important business with East Tennessee family experiences that can’t be duplicated anywhere else in America.”
At House-Hasson’s dealer markets, independent hardware store owners get discounted prices on popular merchandise, see new products available through House-Hasson, and can place their orders directly from the exhibit floor.
“Past summer markets have been held in other cities, such as Atlanta and Cincinnati, “but our dealers have clearly said they like it better here,” Hasson said. “After they’ve done their work at the market they can find so much to do in the national park, Sevierville, Pigeon Forge, Gatlinburg, Knoxville and other East Tennessee places and attractions.”
House-Hasson serves 2,000 independent hardware store owners in 17 states and the Caribbean.