Weekly Industry Insights — 5/31/24
Runnings Agrees to Purchase Home of Economy
Based in Marshall, Minn., Runnings has entered into an agreement to purchase Home of Economy, an 85-year-old, family-owned company with eight stores in North Dakota. This addition will expand Runnings to 90 locations in 12 states from New York to Montana. In the 1950s, the Home of Economy owner Bob Kiesau founded Mid-States, a buying and distribution group with Home of Economy and Runnings as members. Runnings employs more than 3,000 people across 12 states. For more information, see the company’s press release about the acquisition.
R.P. Lumber to Acquire Thorne Lumber Company
Expanding its store count in Missouri to 20, R.P. Lumber Co. is acquiring Thorne Lumber Company, an independently owned retailer of hardware and building materials with three locations in the northwestern part of Missouri in Chillicothe, Cameron, and Plattsburg. The acquisition brings R.P. Lumber’s total number of locations to 87. For more information about the acquisition, check out this press release.
Koopman Lumber Celebrates Anniversary of Dennis, Mass., Location with Board Cutting
As a fun twist to ribbon-cutting ceremonies, Koopman Lumber celebrated the first anniversary of its Dennis, Mass., location with a chainsaw and board-cutting event. Koopman Lumber’s Uxbridge paint store also celebrated its first anniversary, and the company recently opened a store in Pembroke, Mass. Koopman now has 13 locations including two distribution centers. Click here for more information about Koopman Lumber and its Dennis location.
Ambassador Supply Names Michelle Brundige Regional Human Resources Manager
Ambassador Supply, based in Fort Wayne, Ind., an investment and management company in the residential and commercial construction industry, has named Michelle Brundige as regional human resources manager. Brundige’s career includes more than 20 years in the human resources manufacturing industry, leading teams to maximize productivity, training, and development. In her new role, Brundige is responsible for directing human resources functions for assigned Ambassador Supply companies, providing leadership and consultation to employees.
Marshalltown Acquires Vaughan & Bushnell Manufacturing Company
This May, Marshalltown acquired Vaughan & Bushnell Manufacturing Company, a Century Club manufacturer founded in 1869 and known for its hand tools including hammers and pry bars. Based in Marshalltown, Iowa, Marshalltown is also a Century Club manufacturer that dates back to 1890. The deal became final after months of negotiations. In 2018, under the leadership of fifth-generation President Charlie Vaughan, Vaughan & Bushnell acquired Dasco Pro, a leading manufacturer of chisels and punches.
Ace Hardware of Simi Valley Hosts Grand Opening
With General Manager Melissa Minter at the helm, Ace Hardware of Simi Valley hosts grand opening events May 30 to June 2. The 16,000-square-foot store in Simi Valley is the sixth Southern California store, and Westlake Ace has 17 locations throughout the state along with developing other stores in Agoura Hills, Mission Hills, San Jose, San Leandro, and Placentia. For more information about the store’s product lines and grand opening celebrations, see this Westlake Ace press release.
Harrison Lumber in Michigan Celebrates Grand Reopening
During two days of festivities including special events, product demonstrations and giveaways, Harrison Lumber in Harrison, Mich., recently celebrated a grand reopening with a ribbon-cutting ceremony. A Do it Best member, Harrison Lumber added 5,000 square feet of retail space, expanding departments including hand and power tools, outdoor power equipment, paint, outdoor living, and grilling. Find out more about the store here.
Westlake Ace Hardware, The Salvation Army Partner for June Fan Drive
To help citizens stay cool during the summer months, Westlake Ace Hardware and The Salvation Army will host a fan drive through June 16. Customers at Westlake Ace Hardware stores will be encouraged to donate by rounding up their purchases at the register. All donations will go toward new box fans to be distributed through Salvation Army centers. In 2023, Westlake Ace and its customers raised $105,000 nationwide, which purchases more than 6,100 fans for those in need. For more information about the fan drive, visit Westlake Ace’s press release.
