Aubuchon to acquire Martin’s in Vermont
The owners of Martin's Hardware & Building Supply agreed to sell the business to Westminster, Mass.-based Aubuchon Company.
Expected to close this fall, the deal will expand Aubuchon to 110 stores in 8 states.
Owners Martin and Kathleen Clark operate three Martin's stores in Vermont. The store in Bristol will continue to operate as Martin’s Hardware & Building Supply. The existing Aubuchon Hardware store in Middlebury—located 1.5 miles away from Martin’s—will merge into the Martin’s location in Middlebury. The new combined store will be rebranded as Aubuchon Hardware.
A third store operated by Martin’s in Brattleboro, is not part of the acquisition and will close.
Aubuchon President and CEO William E. Aubuchon, IV, saluted the long careers of the Martin's Hardware and Building Supply owners.
“Martin and Kathleen have been serving friends, neighbors, and employees for nearly 28 years as owners,” he said. “I’m inspired by their passion for people and dedication to building up their business.”
Aubuchon's recent acquisition streak includes Cornell’s Hardware in Eastchester, N.Y., and four stores in eastern Pennsylvania.
The Clarks thanked their customers and their community for playing the critical role in the success of the business.
“We have loved being involved in our community for so many years and it is bittersweet to end our careers but the time is right for us to move on and give the stores the ability to continue to grow under new ownership,” Martin Clark said. “We feel like Aubuchon has the ability to do just that. They are family run for 114 years with similar values.”
Martin’s Hardware & Building Supply started in 1904 with the opening of Tomasi Hardware in Bristol, Vt. The Clarks purchased the store in 1995 and grew the business to three locations and 35 people.
