Tim-Br Marts acquires CanWel Hardware
Calgary, Alberta-based Tim-Br Marts, one of Canada’s largest independent lumber, building material and hardware buying groups, announced it has entered into an agreement to acquire CanWel Hardware from CanWel Building Materials Group.
Financial terms of the agreement were not disclosed.
The agreement includes two hardware distribution operations in Victoriaville, Quebec, and London, Ontario, as well as two Chalifour building material warehouses in Quebec. It also provides Tim-Br ownership of the Pro name as well as licensing rights to the Ace brand in Canada.
“This is a turning point for our Company,” said Tim Urquhart, president and CEO of Tim-Br Mart. “With this acquisition we will further empower our network of strong independent Tim-Br Mart dealers. They are the leading purchasers of building materials in Canada, and now they will be the leaders in hardware as well.”
Urquhart emphasized the acquisition will not disrupt supply from the four warehouses.
“It is business as usual actually; we aim to be better than usual,” he commented.
In business since 1967, Tim-Br Mart represents more than 700 dealer locations across Canada, more than $2 billion in annual purchases.
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.
Stanley B&D to move Indiana operations
According to the article, operations to manufacture industrial fasteners, steel fasteners and industrial applications equipment and pneumatic tools will be combined and moved to a 220,000-sq.-ft. building in Greenfield.