RONA prowling for U.S. lumberyards
Canadian home-improvement retailer RONA is still looking for commercial and pro-oriented acquisitions in the United States — and it has as much as C$300 million (US$316 million) to spend, according to a Reuters article.
RONA CEO Robert Dutton told Reuters in an interview last week that his Quebec-based company is focusing on U.S. distributors or commercial and professional-orientated units, rather than customer-facing retail stores.
He pointed out that close to 45% of the pro market is controlled by independents and therefore fragmented.
"We realize that we can be the consolidator in this side of the business in the United States," Dutton said. He added that RONA was prepared to spend between C$50 million and C$300 million on one or more acquisition targets.
RONA has made no secret of its desire to enter the U.S. market and set 2011 as its target date. But now the home-channel company, Canada’s largest with nearly 700 corporate, franchise and affiliate stores of various sizes and formats, has attached a dollar figure to its acquisition plans.
Last year RONA announced its intent to “establish a national platform in the commercial and professional market” in its own country. The C$6 billion firm has made a series of purchases of Canadian building materials stores, as well as recruit independent LBM outlets to join under the RONA brand.
They should approach 84
They should approach 84 Lumber...they need some management and leadership.
CPO Commerce acquires TylerTool.com
CPO Commerce, an on-line retailer of home-improvement products, has announced its acquisition of TylerTool.com, an e-commerce site that sells power tools and equipment to contractors and DIYers. Terms of the deal were not disclosed.
Established in 1999, TylerTool.com offers DeWalt, Makita, Milwaukee, Bosch, Porter Cable, and other brand name tools, as well as compressors, generators and other equipment.
CPO Commerce, based in Pasadena, Calif., operates 30 co-branded home-improvement e-commerce sites. Many of them carry both new and closeout, discontinued and factory-reconditioned products. In 2010 CPO launched ReconditionedTools.com, an online superstore featuring over 2,000 items from over 30 major brands.
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In Purcellville, Va., a store struggles through tragedy
In September of 2010, Nichols Hardware owners Ted and Karen Nichols died in a car accident, leaving the future of their classic Purcellville, Va., hardware store in doubt.
The Purcellville, Va.-based store is a classic piece of Americana, and the subject of a documentary called, “Nichols: The Last Hardware Store. According to Sarah Huntington, CEO of Lincoln Studios, which is produced the film, the goal is to share with audiences the sights and sounds of a business that has changed very little in the last 95 years.
“When you go into Nichols Hardware, you feel like you’ve entered a Norman Rockwell painting,” said Huntington, who lives locally and has been shopping at Nichols for about 20 years. “It’s the way the staff congregates at the counter, they way they know your name. It really is like heading back in time.”
Following the tragic accident, Ted’s 80-year-old uncle Ken Nichols took over running the business. A recent Washington Post feature article asks: "Can anything save Nichols Hardware?"
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