First Combined Do it Best and True Value Fall Market Focuses on Grills, LBM, and Co-op Direction

The first combined Do it Best and True Value 2025 Fall Market in Indianapolis marked the largest show either company has hosted, drawing nearly 11,000 attendees and filling every corner of the Indiana Convention Center. For members and vendors, the market underscored three themes: expanded grilling opportunities in the wake of Weber’s Ace alignment, a sharpened focus on lumber and building materials (LBM), and renewed retailer optimism about the direction of the merged cooperative.

The show floor drew strong traffic from the opening Power Preview through the final minutes of the market. The Power Preview, held outdoors, gave retailers the chance to see live demonstrations of grills, outdoor living products, and outdoor power tools before the main show opened. Inside the Indiana Convention Center, retailers kept visited vendor booths busy, evaluating assortments and placing orders. Vendors reported writing more orders in the first hours than at any other show this year, and that pace continued throughout the weekend, with retailers still stopping by booths and placing orders up until closing minutes of the market.

Do it Best Posts $4.35 Billion in Sales, Issues $132 Million Rebates Amid Slight Sales Dip

At the annual Shareholders Meeting during the 2025 Fall Market in Indianapolis, president and CEO Dan Starr reported Do it Best fiscal-year sales of $4.35 billion, with an additional about $500 million from True Value covering an about six-month period—bringing combined activity to “approaching $5 billion.” Starr characterized the year as strong but even with the prior year, stating sales were “steady” and “not a barn burner,” with most months “matching up to prior year.”

Do it Best reported $4.35 billion in sales for fiscal 2025, down 4.8 percent from $4.57 billion reported in 2024. Gross profit in 2025 was $325.5 million with member rebates of nearly $132 million at a 10 percent rate, compared to $341 million gross profit and a rebate of about $138 million at 11.11 percent in 2024. Despite the dip, CEO Dan Starr emphasized that 2025 results were solid given economic headwinds and remain strong against industry benchmarks.

Starr said the classic warehouse rebate landed at 10 percent—within the board’s target range of 10.0–10.25 percent and below last year’s 11.11 percent. 

“We do not try to just maximize profit,” Starr told members. “Our goal is to provide balance between investment for the future and a solid return at the end of the year. Hitting 10 percent in this environment is a very solid performance.”

Starr highlighted comparative efficiency using a “return per dollar of gross profit” lens. He said Ace’s most recent figure was “about 18.70 cents” back to members for each dollar of gross profit, while “Do it Best returned more than 44 cents on the dollar.”

On capital efficiency, Starr said Do it Best produced a 34 percent return on invested capital (rebate divided by member equity at the start of the year), with a five-year average “right around about 38 percent.” 

“Outside of a stock market fluke or lottery win, it’s hard to beat those numbers year in and year out,” Starr said.

The Shareholders Meeting also recognized outgoing board member Jim Post of T&M Hardware and Rental in Ellwood City, Pa., who completed nine years of service. Starr praised Post and his wife, Mary, for their sustained contribution: “Tim truly loves our co-op and selflessly gave so much time to help make Do it Best even better,” Starr said.

Retailer Reaction: Optimism and Opportunity

More than a dozen retailers interviewed by Hardware Connection described the market as energized, with strong attendance and broad product variety. Many retailers commented that the combined Do it Best/True Value event feels larger, better organized, and more optimistic than past markets from either cooperative alone.

Eric Cooper of Cooper’s True Value Home Center in Taft, Calif., said the show reflects how far True Value has come since being acquired. “Do it Best saved True Value,” he said. “The show is a little overwhelming at times, but the direction is good. The celebration events and energy around the floor have been fun and positive.”

Retailers also commented about the intensity of buying. Kelly Rodarmel of Woodland Hardware & Home in Woodland Park, Colo., said that booths were very busy. “Vendors told me they expect to get more orders here than at the Ace show because people are serious,” she said.

For some, Do it Best’s acquisition of True Value still presents learning curves. Jimmy Jeffords of True Value Home Center in Grenada, Miss., said ordering systems remain tilted toward Do it Best processes, making it harder for True Value dealers. Still, he described the market as enjoyable and worthwhile.

Kristi Hill and Victoria Davidson of Bloomington Hardware said the integration is beginning to feel cohesive. “This feels like everyone is walking toward a common goal,” Hill said. “Whether it’s vendors or members, the attitude is we instead of me. That’s been refreshing.”

Vendors also noted the momentum. Sherwin-Williams national account manager Michael Parsons pointed to strong paint sales and deep market discounts that drove record assortment deals. “There’s definitely excitement around paint right now,” he said.

True Value Launches Brand Campaign with Nick Offerman

At the Fall Market, True Value unveiled a national brand investment that includes working with actor and woodworker Nick Offerman. The initiative focuses on refreshing in-store experiences under the “Destination True Value” format, expanding e-commerce with a 2026 rollout, and launching a broad advertising push built around the slogan “Your project, your way.” The campaign aims to strengthen awareness among younger DIYers while supporting independent retailers with national promotion tools.

For more information about the True Value 2026 initiatives including Offerman’s involvement, read the full story here: True Value Names Nick Offerman as Spokesperson, Launches Major Brand Investment.

Grills Take Center Stage

With Weber now exclusive to Ace and Emery Jensen Distribution, many independent hardware retailers arrived in Indianapolis looking for alternatives. That urgency gave Napoleon and Broil King prominent visibility at the show, alongside Big Green Egg and other grilling vendors.

Kimberly Stuteville, vice president of sales US and Latin America for Napoleon, said the reception from Do it Best and True Value members has been overwhelmingly positive. 

“Retailers have loved seeing that they can offer high quality products with real features—charcoal and gas flexibility, griddle options, affordable pricing—that give them a story to tell their customers,” she explained. “For many dealers, Weber had been the default. Now they’re discovering Napoleon as a brand that resonates with consumers and fits their floor.”

Broil King also found strong traction. Houston Cline, director of sales for the United States, said the company’s booth was packed from the opening Power Preview onward. “We had six people from headquarters here just to keep up with demand, and still missed lunch the first day,” he noted. “Retailers really responded to our U.S.-made story and hybrid grills that combine gas with a pellet attachment. They see that dual fuel option as a way to excite longtime grill customers and fill a gap Weber left.”

Independent dealers echoed that enthusiasm. Mark Warren of Gateway Hardware in Enumclaw, Wash., said his team had carried Weber for many years but was drawn to Broil King during the market. “We came in looking for a replacement but left excited to actually make a change,” Warren said. “Price points are right in line, and the fact that they’re made in the U.S. is a big plus.”

Jim Welch of Port Hardware in Kennebunk, Maine, said his decision is still in process but that both Napoleon and Broil King represent strong possibilities. “We’ve sold Weber for more than 25 years, and now our task is convincing loyal customers that these other grills are equally as good, if not better,” he said.

For some stores, the grilling category is less critical. Robin Smith of Petersburg Hardware in Petersburg, Ind., described grilling as a small part of his assortment. Several retailers interviewed acknowledged that Do it Best’s partnerships with new grill vendors prevented them from being left behind.

LBM Expansion and Services

If grills captured the sizzle on the show floor, LBM carried the substance behind the scenes. For the first time, Do it Best hosted an LBM-specific media kickoff, reflecting the rapid growth of its lumber and building materials program since absorbing True Value’s limited LBM business.

Russ Kathrein, executive vice president of LBM, said the team has focused not just on product but on dealer services. “We want to figure out how to make our members more successful—help them mitigate risk, improve operations, and ultimately be more profitable,” he said.

Kathrein pointed out the Member Operational Excellence initiative led by Scott Morrison, who applies lean process and yard layout improvements to drive faster truck turn times—his target is 15 minutes or less, a change that can significantly increase delivery capacity without adding trucks or drivers. Russ Kathrein told attendees that in one case he had seen a yard improve from about 50 minutes to 12, which translated to roughly $1.6 million in added delivery capacity per location.

Replenishment buying services and a new pro e-commerce partnership with TOOLBX also drew attention. The platform integrates with ERP systems to streamline quoting, ordering, and account management, giving independents a way to match the digital capabilities of larger competitors. Kathrein also emphasized education, pointing to the Do it Best LBM Academy, which continues to train managers, and sessions from sales trainer Bradley Hartmann. On the floor, Studio 695 presented room-style vignettes—millwork, flooring, and home décor—sourced directly from warehouse assortments to help retailers merchandise without overcommitting to large loads.

Throughout the market, retailer interest in boosting lumber and building materials categories was been strong. Kathrein noted that True Value’s prior LBM volume was modest, about $100 million. Since integration, many of those dealers have significantly increased their purchasing through Do it Best. “We feel like there’s huge opportunity to grow with those members,” he said.

80th Anniversary Party Fills Gainbridge Fieldhouse with Energy

At the 80th anniversary celebration of the co-op, Do it Best turned Gainbridge Fieldhouse into a full-floor party. Retailers and vendors took turns on the court shooting three-pointers—some memorable for the wrong reasons, as Starr noted during his CEO address—while the stands and concourses filled with a record crowd from the market. Hallways and aisles were packed. Eighties tunes reverberated off the Fieldhouse walls as a neon-bright dance party pulsing through the arena and concourse. Retailers and their families enjoyed food and drinks and a steady stream of photo-ops from the court to the upper seating area. 

Do it Best/True Value By the Numbers

• Sales: $4.35 billion (Do it Best) + $500 million (True Value, partial year)
• Gross Profit: $325.5 million
• Member Rebates: nearly $132 million
• Classic Warehouse Rebate: 10.0% (vs. 11.11% last year)
• Return per Dollar of Gross Profit: 44¢ (vs. Ace’s 18.7¢)
• Return on Invested Capital: 34% (five-year average ~38%)