Valspar CEO likes his chances with Ace
After signing a long-term deal to supply paint for Ace Hardware, Valspar CEO Gary Hendrickson expects to ride the recovery to increased sales.
"The recently announced Ace Hardware acquisition will expand our retail presence in the U.S. and deliver additional revenue from Ace’s private-label paint which we now manufacture and sell," said Hendrickson.
During a conference call with analysts, Hendrickson said the store-level decisions on stocking Valspar paint lie with the individual Ace members, but the co-op can certainly influence those decisions.
"The individual storeowner can make their choice of the brands that they want to carry," Hendrickson said. "The co-op makes it a lot easier for them though, to pick the brands that the co-op has agreements with."
Valspar will have a shipment and fulfillment advantage over paint competitors, he said, "and that’s the big advantage."
Valspar is also planning an expansion in the United Kingdom through an alliance with retail giant B&Q. That deal will put Valspar branded paint in more than 300 stores in the United Kingdom and Ireland. But it’s the United States that has Hendrickson most excited.
He told analysts to stay tuned for a another "significant retail program in the U.S.," but he said he couldn’t talk about it yet.
"The Ace acquisition and the retail program underscore our confidence in the U.S. housing market and will position us well as the market continues to recover," said Hendrickson. "We believe that any investment we make now and the recovery of the U.S. housing market is a good one for the long term."
let me save the paintdoctor
let me save the paintdoctor from a malpractice suit.Ace brand paints have outperformed and outtested both ppg and california paints. i will agree on the valspar comment and also remind those that the 20 year contract of Ace with Valspar means that they must continue to make Ace paints to Aces specs and recipes so integrity of paint will not change. Especially since the new paint and primer is number 1 in consumer reports along with their paint only brand being 7th. As for Richbal2, your info seems made up. Truth is Ace had two paint facilities. One built from scratch by Ace in the 80's the other was bought from Sears/Roebuck in the 90,s neither ever being owned by Valspar until now. There was a lot of updating and new equipment needed and there is the reason for the merger as Valspar having the equity to fix these and Ace still keeping there formulas was a win win for all. Employees kept jobs, and product still available for consumers expectations. In my book, America would be better off if more companies would do this instead of moving factories to Mexico like the wonderful PPGs and california paints.
Do it Best refines best practices in Phoenix
A blend of education, entertainment and relaxation highlighted the recently completed Do it Best Corp. Winter Conference held in Phoenix.
Do it Best Corp. members from around the world attended the event, which was held Jan. 23-24 at the Arizona Biltmore resort. The Winter Conference’s education and training seminars, combined with product knowledge sessions as well as entertainment and relaxation, had co-op members inspired and invigorated by new ideas for their stores, according to the event’s organizers.
“Winter Conference is an important and exciting opportunity for our members to get their new year off to a great start,” said Bob Taylor, president and CEO of Do it Best Corp. “And we believe this year’s mix of training, education, networking and entertainment was as strong as any we’ve offered."
The Winter Conference’s training sessions were led by business experts Mark Sanborn, author of the bestselling book "The Fred Factor," who shared insights into delivering extraordinary results; motivational speaker Cam Marston who helped Do it Best Corp. members learn about more effectively connecting with customers from every generation; and former television host Ross Schafer who discussed the importance of innovation and proactive retailing. Additional training sessions tapped the experience and expertise of fellow members who shared their own ideas, suggestions and successes.
Winter Conference attendees also received product knowledge training, with sessions from DeWalt, Rubbermaid, Sherwin-Williams, TAMKO and Valspar.
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Ace’s Ziegler distinguished by governance group
David Ziegler, co-owner of Elgin, Ill.-based Ziegler’s Hardware and chairman of Ace Hardware’s board of directors earned recognition as a Fellow of the National Association of Corporate Directors (NACD).
As an NACD Fellow, Ziegler has demonstrated his knowledge of the leading trends and practices that define exemplary corporate governance today, and has committed to developing professional insights through a sophisticated course of ongoing study, according to Ace. The designation is the highest level of credentialing for corporate directors and corporate governance professionals.
“I am honored to join the distinguished and diverse group of individuals who make up NACD’s Fellowship program and who have committed to advancing the highest standards of boardroom leadership,” said Ziegler. “The resources, insights and connections I’ve made through NACD’s Fellowship program will be key assets to the companies I serve, as well as to my professional growth as a director.”
Ziegler, 57, was named chairman of Ace Hardware Corp.’s board of directors in 2008. Prior to his appointment, Ziegler was an Ace board member for seven years. He served as chairman of the Compensation and Human Resources committee during his tenure, as well as chairman of the Supply Chain Committee. Currently he serves on the Ace International Holdings board of directors. He is also a member of Ace’s Nominating and Governance, and Finance committees.
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