House-Hasson Hardware Completes Acquisition of Bostwick-Braun

House-Hasson equipment He finalized his acquisition warehouses and inventory of the former wholesale computer hardware distributor Bostwick-Braun in the Midwest.

The acquisition adds two warehouses in Indiana and Arkansas, as well as more than 45,000 stock keeping units (SKUs) to the existing 55,000 SKU inventory. The facility, inventory and employee expansion will provide House-Hasson with a springboard to strengthen its position in multiple states and to expand its customer base of independent hardware stores and lumberyards in states where it did not previously operate.

“Our goal is dealer profitability, and that’s the reason for this acquisition,” says Steve Henry, House-Hasson president and CEO. “We’re adding the Arkansas warehouse to our existing ability to serve customers in Texas, Louisiana, Arkansas and other Southwest states. The Indiana warehouse opens up opportunities in Indiana, Ohio, Pennsylvania, New York, Michigan and other Northeast states.”

The due diligence process has been ongoing since the signing of a letter of intent to acquire on March 19, 2024. The transaction closed on June 28. The terms of the cash sale are private between the parties.

“Our corporate policy has long been not to borrow money to finance acquisitions,” Henry says. “Our debt-free status gives us a great deal of freedom and flexibility to act in the best interests of our dealers.”

House-Hasson served customers in 23 states and the Caribbean Basin from its 500,000-square-foot warehouse in Knoxville, Tennessee, and a 250,000-square-foot warehouse in Prichard, West Virginia. The addition of the former Bostwick-Braun warehouses in West Helena, Arkansas, and Ashley, Indiana, to its operations gives House-Hasson a total of approximately 1.3 million square feet of warehousing, receiving, shipping and administrative space.

Additionally, 75 former Bostwick-Braun employees joined House-Hasson, bringing the total number of House-Hasson employees serving dealers from the company’s four locations to 532.

“We are thrilled to have these great people join us. Throughout the due diligence process, we were impressed with their work and that they understand and want to be a part of our focus on dealer service and profitability,” says Henry. “Independent hardware stores and lumber dealers have a bright future. The demand for them is growing by the day. They provide an unmatched level of local service and responsiveness to their customers. We are proud to serve them, and now we will be able to serve them even better.”