DISTRIBUTORS/CO-OPS

Sears Holdings plans to sell its Craftsman brand to tool giant Stanley Black & Decker for $550 million cash up front, $250 million at the end of year three, plus various annual payments.

Hoffman Estates, Illinois-based Sears said the move is part of an effort to stabilize its operating performance. The struggling retailer also intends to close an additional 150 non-profitable stores – 109 of them under the Kmart banner.

[Click here for the list of upcoming store closures.]

Belvidere, Illinois-based Professional Handling and Distribution, Inc. has been acquired by a subsidiary of Gypsum Management Supply, Inc.

The acquisition of PHD expands the footprint of GMS in Chicago and adds a multi-location operation to its portfolio. PHD is a provider of drywall and related products, delivering and servicing well-known product brands to drywall subcontractors, homebuilders and general contractors.

Kevin O’Connor will continue to oversee the PHD operations.

Rugby Holdings LLC., a subsidiary of Langley, British Columbia-based Hardwoods Distribution Inc., purchased Downes & Reader Hardwood Company Inc. Downes & Reader is a distributor of hardwood lumber with four locations in the US Northeast and annual sales estimated at $25 million.

Downes & Reader services both the wholesale and retail customer segments.

Chanute, Kan.-based Cleaver Farm & Home was recognized by Chicago-based True Value Co. as one of 13 “Best Hardware Store in Town” honorees.

Accepting the award at a True Value hosted ceremony were Chris and Jason Cleaver. 

The retailer converted to the co-op’s Destination True Value format in spring 2013, and the owners see continued community support along with opportunities for growth. 

The farm-and-ranch segment has been an area of focus for the wholesaler, which describes the segment as its fastest growing. 

New Orleans -- As far as dealer markets go, Orgill's approach is different than other wholesale distributors in the industry. At the very least, there's no official general session where the executives get on stage to deliver carefully prepared statements about the company’s new initiatives.

A popular Boys & Girls Club in Chicago’s Little Village neighborhood is welcoming a five-year, $1.5 million grant from True Value.

To celebrate the move, the club, community members and some 100 volunteers from around the country, came together just before the True Value Chicago Reunion to make building improvements and participate in a ribbon cutting. The volunteers were retailers, suppliers and employees of True Value Company.

Towson, Md.- based Black & Decker announced Monday that it has re-launched its website blackanddecker.com after an extensive upgrade.

The new site aims to provide an improved resource for its DIY customers, the company said.

The site features new additions, such as an interactive project section where visitors can contribute projects and questions to other DIYers. The new project section also features step-by-step project guides and provides before and after images.