HBC acquires WordLock
Cranbury, N.J.-based HBC Home & Hardware Products, formerly the Howard Berger Co., acquired WordLock, maker of bike locks, padlocks and travel locks.
"WordLock brings an unparalleled record of success to HBC," said James Brower, CEO of HBC Home & Hardware Products. "In a few short years, WordLock has reinvented the personal security market with innovation ad design and created a recognizable brand name that can be found in all of the leading retailers across North America."
WordLock uses a multi-patented word combination system to open and close the locks.
"The concept of using letters and words rather than numbers has been universally tested to be more memorable and accommodating to all people both young and old," said Todd Basche, CEO of WordLock.
HBC Home & Hardware Products is described as a consumer products company spanning 13,000 items and more than 25 categories.
Fastenal reports sales gains in Q2
Winona, Minn.-based Fastenal Co. reported second-quarter sales of $847.6 million, up 5.3% from the same quarter last year. The company’s net earnings increased 7.7% in the quarter to $121.0 million.
Fastenal had 2,677 stores as of June 30 and at the same time operated 29,549 FAST Solutions industrial vending machines. During the first six months, Fastenal opened 33 new stores.
"Our growth in net sales was impacted by inflationary price changes in our non-fastener products and some price deflation in our fastener products, but the net impacts were limited," the company said in a statement.