House-Hasson Hardware Completes Acquisition of Bostwick-Braun

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

“Our goal is dealer profitability and that is the reason for this acquisition,” he said. Steve HenryPresident and CEO of House-Hasson. “We are adding Arkansas warehouse to our current ability to serve customers in Texas, Louisiana, Arkansasand other southwestern states. Indiana the magazine opens up opportunities for us Indiana, ohio, Pennsylvania, New York, Michiganand other states in the northeastern region.”

“Independent hardware stores and lumber dealers have a bright future,” Henry said. “The need for them is growing every 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.”

A due diligence process has been underway since the signing of the letter of intent regarding the acquisition on 13 March 2018. Tuesday, March 19, 2024. The transaction was finalized on Friday, June 28The terms of the cash sale are a private matter and remain to be agreed between the parties.

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

To date, House-Hasson has served clients in 23 states and Caribbean 500,000-square-foot warehouse pool at headquarters Knoxville, Tennessee.and a 250,000 square foot warehouse Prichard, West Virginia Expanding its operations into the former Bostwick-Braun warehouses in West Helena, Arkansas.AND Ashley, Ind.provides House-Hasson with approximately 1.3 million square feet of total warehouse space for receiving, shipping and administration.

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,” said Henry. “During the due diligence process, we were impressed with their work and that they understood and wanted to be a part of our focus on dealer service and profitability.”