Reunion Message: ‘No Limits’
True Value Company is looking forward and making investments.
Dallas — The announcement of a $150 million investment in True Value’s supply chain was a big deal in more ways than one, according to True Value CEO John Hartmann.
The investment – including the construction of a 1 million sq. ft. distribution center in Pennsylvania — certainly promises improved supply chain efficiency to support retail growth. But it also represents the post-transition True Value’s ability to act quickly and support True Value retailers.
“Within a year of going through the transition and being able to make this kind of substantial investment – an investment that doesn’t impact our retailers’ rebates — is a big deal for us,” Hartmann told HBSDealer.
True Value entered a deal with ACON Investments in April 2018, which dramatically changed the co-op structure while releasing some $230 million in equity for True Value retailers. According to Hartmann, “the transition is quickly fading into the rear view mirror.”
At the Reunion’s General Session, several retailers were highlighted for carrying the True Value flag while serving their communities. And company executives offered details on the supply chain initiatives, along with plans for a bold, new “True Value Local E-Commerce” program. The latter, about to enter its pilot stage, is designed to allow (among other things) retailers to advertise their own in-stock products and prices on their web sites.
“We’ve never had more spontaneous applause,” said Hartmann. “I think every speaker on the stage was interrupted by applause.”
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