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Merit buys Canadian distributor

BY HBSDEALER Staff

The Merit Distribution Group will acquire Dynamic Paint Products, a 40-year-old family-owned distributor and manufacturer of paint-related products based out of Toronto, Canada.

The companies announced the deal early Tuesday. Terms were not disclosed.

Originally named Mumby and Associates, Dynamic mainly served the Toronto area, but over the years has seen exponential growth throughout Canada. Dynamic’s brand of paint-related products are currently sold throughout the world. 

Dynamic will move forward as a wholly owned subsidiary of The Merit Distribution Group. James Mumby will continue in his role as president and will oversee the Canadian and International business of Dynamic Paint Products.

“The addition of Dynamic significantly enhances our distribution footprint,” said Mitch Jolley, CEO of The Merit Distribution Group. “With warehouse facilities now located in Canada, we are positioned better than ever to deliver high-quality products and services to our customers.

The Merit Distribution Group, an Illinois corporation headquartered in Spartanburg, South Carolina, provides wholesale distribution of paint sundry, hardware and drywall related products through its Lancaster, Merit Supply, Merit Trade Source and Merit Pro trade names.

“We are excited to be part of the Merit Distribution Group team,” said James Mumby, president. “We feel there are significant synergies in this acquisition that will assist us in better servicing our customer’s needs by leveraging our 40 years of market knowledge, along with the knowledge and leverage that Merit brings to our organization.” 

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HCN Stock Watch: BLDR rises 2.66%

BY HBSDEALER Staff

Monday wasn’t too shabby for HCN stocks, especially for Builders FirstSource (BLDR), which jumped 2.66%.

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Craig Cowart to lead Handy Hardware

BY HBSDEALER Staff

Craig Cowart will succeed Doug Miller as president of Houston-based hardware distributor Handy Hardware, effective Oct. 1. 

Cowart will lead Handy as it distances itself from its tumultuous recent period and builds on its “ProfitPlus” value proposition, the company said.

Handy Hardware emerged from a Chapter 11 filing in August 2013 after being purchased by Hardware Holdings, part of the Littlejohn & Company group. At that time, the company’s structure changed from a member-owned co-op to an independent wholesaler and distributor.

Miller came to Handy in July 2013 as interim CEO. He had been president at Spokane, Washington.-based Jensen Distribution. “With the progress we have made, it is appropriate for a new leader with a long-term vision to take over,” Miller said. “We couldn’t have found a more capable person than Craig Cowart to lead Handy going forward. His 23 years of retail experience has been invaluable in our turnaround, and his customer focus will benefit our dealers even more going forward.”

Cowart said: “I am so excited about the opportunity to lead Handy Hardware. I want our dealers and vendors to know that the entire Handy team is committed to creating a better partner than we have ever been, ready to aggressively meet the needs of the evolving retail market.”

Cowart has leadership experience at Lowe’s; Marvin’s Building Materials and Home Centers; and Your Other Warehouse, a distributor owned by The Home Depot.

“The new Handy is a better and more capable company, and our new ownership structure provides deeper financial resources and greater sourcing and merchandising options for our dealers,” said Cowart. “Ultimately, Handy’s success is tied directly to how we help our customers compete, and how Handy and Hardware Holdings helps make complex assortments simple.”

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