Wolseley announces acquisitions in United States, France and Norway
United Kingdom-based building products giant Wolseley has announced acquisitions of a handful of building products distributors in the United States and abroad.
Wolseley’s U.S. division, Stock Building Supply, has acquired Hollow Metal Specialists, a maker, distributor and installer of doors, hardware and access control devices, based in Sarasota, Fla. Hollow Metal Specialists had revenue of $15.4 million in 2006.
Wolseley France acquired Etablissements Lebrun, a general builder’s merchant with one location southeast of Paris. Etablissements Lebrun had revenue of euro 2.8 million (US$3.8 million).
Wolseley’s Denmark-based DT Group acquired Norway-based H.R. Sandvold. Sandvold is a plumbing wholesaler and in recent years has extended its product range into kitchens, bathrooms and bathroom accessories. H.R. Sandvold had revenue of NOK58.5 million (US$9.9 million) last year.
Wolseley had 2006 sales of more than $25 billion. Raleigh, N.C.-based Stock Building Supply now operates 321 locations in 34 states, with reported sales of $5.3 billion in 2006.
Lifetime Brands names new CFO
Lifetime Brands, marketer of housewares under several names including Cuisinart, KitchenAid and Farberware, has named Laurence Winoker senior vp-finance, treasurer and CFO.
Winoker replaces Robert McNally, who is retiring.
Winoker most recently served as senior vp, controller and treasurer for MacAndrews & Forbes Holdings. He also formerly served as senior vp, corporate controller and treasurer for Revlon from 1999 to 2003.
Winoker holds a bachelor’s degree in economics and accounting from the City University of New York.
Westbury, N.Y.-based Lifetime Brands is a designer, developer and marketer of housewares and kitchen accessories.
Container Store purchased by private firm
Specialty retailer Container Store has sold the majority of its stock to private investment firm Leonard Green & Partners, based in Los Angeles.
Leonard Green & Partners has major investments in several other companies, such as Petco and David’s Bridal. Terms of the deal were not disclosed, but Leonard Green & Partners said it intended to keep Container Store’s current management team.
Container Store will take on a new six-member board of directors, consisting of company CEO Kip Tindell, president Melissa Reiff and chief merchandising officer Sharon Tindell. From Leonard Green & Partners, board members will be vp Jonathan Sokoloff, vp Kristofer Galashan and partner Timothy Flynn.
“We’re excited about what the future holds for everyone involved, as we continue to deliver our brand of retail and look forward to making everything about our great company even greater,” said Kip Tindell in a statement.
Container Store has 39 locations in the United States, with future stores planned in Denver and Cherry Hill, N.J.