Rona to purchase TruServ
Boucherville, Quebec-based Rona, the largest hardware retailer and distributor in Canada, announced it has signed a deal to purchase dealer-owned, wholesale distributor TruServ Canada.
“This proposed acquisition represents an important step in our strategy to accelerate the consolidation of the Canadian Renovation – Construction industry and is exactly in line with our objective to continually strengthen our leadership position in the distribution business, which is the roots of our company,” said Robert Dutton, president and CEO of RONA.
Winnipeg, Manitoba-based TruServ Canada has two warehousing and distribution centers — one 400,000-sq.-ft. facility in Winnipeg, Manitoba and one 250,000-sq.-ft. facility in Kitchener, Ontario, where it supplies more than 40,000 SKUs with another 80,000 direct shipment options. The company serves approximately 650 independent dealers across Canada, including 250 stores under the True Value, V&S, Country Depot and other specialized banners, as well as 400 non-bannered stores.
“By serving 650 new dealers, the acquisition of TruServ Canada would provide instant geographical penetration in many Canadian communities, particularly in Ontario and Western Canada, thus creating important growth opportunities. The proposed acquisition would also diversify the network of dealer stores served by Rona by adding hardware, general merchandising and agriculture specialized stores and would therefore increase our ability to serve small and mid-size specialized dealers across Canada,” Dutton said.
“This is an excellent opportunity for TruServ Canada and its shareholders. Joining forces with RONA would further strengthen our ability to offer independent retailers access to products and services needed to compete in today’s market. Our customers would still be able to count on our employees’ know-how to get the same top-quality service they’re used to,” said TruServ chairmen Pierre Levesque.
The transaction is expected to close by the end of the year. Financial terms were not disclosed.
Longtime customers say goodbye to Ontario store
The retailer, who was known for its hard-to-find items, said customers have been stopping in over the past few weeks to say their goodbyes and stock up on the stores specialty wares.
Owner Katy Merrifield who said the store closing was due to a combination of unspecified reasons, will shut its doors for good by the end of October.
HDW reports record sales at Fall Market
Attendance at the Hardware Distribution Warehouse (HDW) Fall “Monopoly” Market increased by 37%, and overall sales were up 31% over the Spring Market.
“We had an overwhelming response to our special offer that will waive all delivery charges through Dec. 31 for market attendees,” reported Kenny Beauvais, president and CEO of HDW Inc. Additionally, Beauvais reported that with a record number of participating vendors, attendees found more selection and variety than ever before.
Avariety of seminars and educational events were offered during the three-day event. HDW also reported a tremendous response to its new order entry program, coupled with the HDW website, which saves retailers much time when ordering.
Connie Sink of Discount Building Materials in Oxford, Miss., was the big grand prize winner at the show, winning $10,000 on Sunday afternoon. During the market, HDW gave away cash and prizes totaling more than $40,000.
Hardware Distribution Warehouse Inc. is an employee-owned company and provides independent hardware and lumberyards a complete source for retail products. HDW has distribution centers located in Greenwood, Miss., and Shreveport, La., and is a member- owner of Distribution America, the nation’s largest network of independent hardware and paint sundries wholesale distributors.