DATATRAC: Home Center and Hardware Chains – April 2016
• Huttig Building Products announced the hiring of Oscar A. Martinez as VP, CFO.
• Snavely Forest Products announced the hiring of Rick Renshaw as General Manager of the North Carolina Division. Also, Mike Kudis was hired as Business Analyst and Laura Snavely was promoted to Manager, Retail Customer Support.
• Weyerhaeuser Co. announced that Jim Kilberg has been named Senior VP of Real Estate, Energy and Natural Resources. Mr. Kilberg is replacing Tom Lindguist.
• Fastenal Company is expanding its Onsite business. The company expects to sign 200 new Onsite customers this year; so far 48 have been signed in the first quarter.
Mergers and Acquisitions
• Huttig Building Products announced the acquisition of BenBilt Building Systems, a wholesaler distributor and door fabricator.
• Sherwin-Williams announced that the company will acquire Valspar for $9 billion. The combined revenue from both companies in 2015 was $15.6 billion.
• U.S. Lumber has merged with Boston Cedar, allowing the company to enter a new Northeast region. With the merger U.S. Lumber will hold the controlling interest in the combined companies. Rob Ankner, founder of Boston Cedar, will take a seat on the board of directors for U.S. Lumber.
• Costello’s Ace Hardware has opened two new locations, bringing its total store count to 25 locations. The new stores opened in North Bellmore, NY on 4-8-2016 and Lincoln Park, NJ on 4-15-2016.
• Fastenal Company announced plans to open 40 to 60 new locations by 12-31-2016.
• Parkrose Hardware has opened a new location in Vancouver, WA bringing its total store count to three.
• Short & Paulk Supply has opened a new location in Cuthbert, GA. The new store opened earlier this month, but the grand opening will not be held until 5-25-2016.
• True Value announced sales of $1.49 billion for FYE 1-2-2016, a 0.1% increase over fiscal year 2014. True Value served approximately 4,500 stores as of 1-26-2016.