True Value announced it has acquired the brand trademark rights from Agway Farm & Home Supply, a wholesale product distribution company serving a network of private dealers, primarily in the U.S. Northeast.
“Purchasing the Agway brand is an excellent fit for True Value as we continue to grow through strategic acquisitions,” said Chris Kempa, CEO of True Value Company.
The Agway Trademark acquisition expands True Value's capabilities in the fast-growing farm, ranch, auto and pet category, said the firm.
“Farm and ranch is an important category for True Value and owning the Agway brand deepens our capacity to support our retailers in providing their customers with the products they need,” said Kempa.
As part of the purchase, True Value said it has also obtained the rights to select private-label products and equipment. Currently, close to 600 retail stores operate under the Agway name.
“We are thrilled that an iconic brand like True Value has acquired the Agway trademark and that these two highly recognizable names will continue serving communities across the country,” said Jay Quickel, president and CEO of Agway Farm & Home Supply.
The transaction represents True Value's second completed acquisition in 2022. In March, True Value announced the purchase of Majic, The Yenkin-Majestic Paint Corporation’s consumer paint division.