Hardware Retailing

DEC 2017

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

Issue link: http://hardwareretailing.epubxp.com/i/904225

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Page 41 of 70

December 2017 | HARDWARE RETAILING 37 ● Home Depot announced an agreement to purchase Compact Power Equipment Inc., a national provider of equipment rental and maintenance services, for $265 million in cash. ● The Equifax data breach may affect small business owners differently than everyday consumers, according to a class-action lawsuit filed on behalf of about 28 million small business owners in the U.S. ● Walmart announced plans for a new corporate headquarters in Bentonville, Arkansas. Amazon announced plans to build a second headquarters somewhere in the U.S. or Canada, with more than 200 cities bidding for the business. ● Ace Hardware Corp. purchased the majority stake in e-commerce startup The Grommet. ● Walmart purchased Parcel, a delivery logistics startup that focuses on overnight and same-day last-mile delivery. ● Sears Canada Inc. will liquidate its assets after its board rejected a business plan proposed by the company's top executive. ● Menards founder John Menard Jr. is the wealthiest person in the state of Wisconsin, with a net worth of $9.9 billion, according to Forbes' list of the 400 richest people in America. ● True Value president and CEO John Hartmann addressed a Bloomberg story that the Chicago-based co-op was considering a potential sale. Hartmann told Hardware Retailing that their retailers "own the company and anything that would change that, they would have a say in." ● The company that owns T.J. Maxx and HomeGoods in the U.S. introduced Homesense, a new big-box chain with its first location in Massachusetts. ● Westlake Ace Hardware announced it will acquire Buikema's Ace Hardware, an independently owned business that operates seven stores in the Chicago area. ● Amazon announced it would acquire the high-end grocery chain Whole Foods Market for $13.7 billion, giving the online retailer a network of more than 460 brick-and-mortar stores. ● Do it Best Corp. was named the largest private company in Indiana by the Indianapolis Business Journal. The ranking is based on annual revenue. ● Orgill Inc.'s Post Falls, Idaho, distribution center began serving retailers in five states throughout the northwestern U.S. as well as customers in western Canada. The company originally announced the new center in August 2016. June July August September October November ● Lowe's announced its $512 million purchase of Texas distributor, Maintenance Supply Headquarters, to grow its pro business. ● Hardware Distribution Warehouses Inc. announced its purchase of a 670,000-square-foot facility in Marshall, Texas, to serve as the new corporate headquarters. The facility will also allow consolidation of its Houston and Shreveport, Louisiana, distribution centers to the new location. May

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