Industry Updates: Home Center and Hardware Chains – August 2014
ABC Supply Co. has hired Paul Drobnitch as Director of Corporate Development. In his new role, Drobnitch will work with the company’s acquisition team to identify market opportunities and businesses for acquisition.
Ace Hardware Corporation has made some updates to its corporate board of directors, now including the appointment of Jim Ackroyd as Chairman.
Do it Best Corp. added Nick Talarico as a divisional manager, effective Aug. 1. In his new role, Talarico will oversee the hand tools, plumbing, cleaning, housewares departments within merchandising. The co-op is promoting Betsy Hartman to replace Talarico as manager of internal audit. Hartman most recently served as the assistant credit manager and senior credit analyst in the finance division.
Emery-Waterhouse, the hardlines distributor, announced the new hire of Charles Chibante as VP of Sales.
Home Depot has promoted Ted Decker to the position of Exec VP Merchandising, where he will take the helm of the company’s merchandising strategy and operations.
PPG Industries has elevated Exec VP Michael H. McGarry to the position of COO.
Tile Shop has elected Kirk Geadelmann as its new CFO. He will be joining the company from Best Buy, Inc. and replacing Timothy Clayton, who is leaving to pursue another opportunity.
Weyerhaeuser is reordering its leadership team through this summer. Senior VP, General Counsel Sandy McDade retired in July. Succeeding her is Devin Stockfish, who will also maintain his prior role as Corporate Secretary. Additionally, Senior VP Human Resources Denise Merle’s role has been expanded to Senior VP Human Resources and Investor Relations after Kathy McAuley’s recent retirement as VP Investor Relations.
Williams-Sonoma made several organizational changes to its management team, as part of its continued growth strategy:
Chief Marketing Officer Pat Connolly has been elevated to Chief Strategy and Business Development Officer. Connolly will work closely with senior management to refine the company’s long-term strategy, including the development of new businesses, and the evaluation and execution of acquisitions and alliances that can provide significant growth.
Chief Information Officer John Strain has been promoted to the position of Chief Digital and Technology Officer. Strain will assume additional responsibility for the company’s digital and direct marketing efforts. Felix Carbullido has been promoted to the position of Chief Marketing Officer, succeeding Connolly and reporting to Strain. Dean Miller has been promoted to the position of COO.
Builders FirstSource achieved its highest sales level since 2006 as it swung to a profit in the second quarter ended June 30.
Mergers and Acquisitions:
Builders FirstSource has purchased West Orange Lumber Company. West Orange supplies lumber, roof and floor trusses, custom windows and doors, as well as installation services, to residential home builders and commercial contractors in the Central Florida region.
Cedar Creek announced the completion of its acquisition of Reid and Wright, Inc. which specialized in lumber, building materials, and specialty products.
US LBM Holdings has expanded its footprint yet again via the acquisition of Brooklyn-based Samuel Feldman Lumber Co. Owners Robert and Kenneth Feldman will remain on-board, with Kenneth stepping in as president of Feldman Lumber.
Aaron’s announced the closure of 44 stores in the third quarter of this year but was vague in referencing further store adjustments as warranted.
Carter Lumber continues down the expansion trail by opening a new location on the north side of Charlotte. The facility located at 4401 Pete Brown Rd. in Charlotte.
HD Supply launched a refreshed brand approach that is described as a simplified and unified approach to representing the industrial distributor’s business units and their areas of expertise. HD Supply White Cap, as listed in the Chain Store Guide database of Home Center Operators & Hardware Chains has been rebranded as HD Supply Construction & Industrial- White Cap.
Kelly-Moore has sold five company-owned stores to Rodda Paint Co., four located in Idaho and one on the Oregon border.
Kelly-Moore will continue its aggressive retail expansion with eight new retail stores in California slated to open by 2015.
Parr Lumber has opened a new design center in Aloha, Oregon, which features displays through kitchen vignettes, appliance options and cabinet styles.
PPG Industries released what it called a record performance for its second quarter, following its agreement last month to acquire Consorcio Comex, PPG reported net sales from continuing operations of $4.08 billion, up 5.1% from $3.88 billion in the same quarter last year.Net income increased 13.2% to $386 million.
Rodda Paint Co. has acquired five Kelly-Moore company-owned stores, four located in Idaho and one on the Oregon border. The stores are located in the Idaho cities of Caldwell, Meridian, Boise and Twin Falls. The Oregon store is in Ontario. The five new stores will join Rodda’s retail group of 48 locations and its network of 23 independent retailers. Rodda will continue to distribute Kelly-Moore paint.