Weekly Industry Insights — 08/02/24
A.O. Smith to Acquire Pureit from Unilever for $120M
Global water technology company A. O. Smith Corporation announced that it has an agreement to acquire Pureit from Unilever. The purchase price will be approximately $120 million, and the deal is expected to be complete by the end of 2024. “The acquisition will also support our corporate strategy by enhancing our premium product portfolio and distribution capabilities,” said Kevin Wheeler, the company’s chairman and chief executive officer. “Pureit’s culture of innovation, strong brand recognition and dedication to customer service will be an excellent addition to our premium brand positioning and broad product portfolio in the region. We look forward to welcoming the Pureit team to the A. O. Smith family.” For more information, see A.O. Smith’s press release.
Koopman Lumber Celebrates 85th Anniversary
With 13 locations, family-owned Koopman Lumber based in Whitinsville, Mass., is celebrating its 85th anniversary. The company recently marked the first anniversary of its new store in Dennis, Mass., and announced the acquisition of a new store in Pembroke, Mass., expanding to Cape Cod’s South Shore. “In 1939, my grandfather Peter Koopman started collecting, storing and, with the help of my grandmother, selling lumber and supplies to local builders,” said Dirk Koopman, CEO of Koopman Lumber. “Contractors would just ring the bell or yell from the driveway like they were family and that’s still the core of what we stand for at Koopman Lumber.”
US LBM Acquires L.D. Mullins Lumber Company
US LBM has announced its acquisition of L.D. Mullins Lumber Company, based in Riviera Beach, Fla., and founded in 1946. With this acquisition, US LBM now operates 18 locations in Florida. Scott and Lev Mullins, who have led the organization since 2005, will continue running day-to-day operations. “South Florida continues to be a growth market for new construction, and the addition of Mullins Lumber and their great team allows us to augment and expand our operations and support for builders in the area,” said US LBM President and CEO L.T. Gibson.
Westlake Ace Hardware Acquires 4 Breed & Co. Stores
Westlake Ace Hardware announced it will acquire four locations of Breed & Co Ace Hardware, a family-owned company in Austin, Texas. The acquisition will include three locations in Austin and one in Spicewood, Texas. The Spicewood store will be rebranded as Westlake Ace, and all stores will keep current management and personnel. Breed & Co. was founded in 1970 by Truman Breed after purchasing a small hardware store near The University of Texas campus. In 2015, Dave and Mahin Barker, owners of Spicewood Ace Hardware, bought Breed & Co., associating it with the Ace brand and adding a third location in Belterra. In 2022, the Barkers opened an Ace Hardware store in North Austin, which they will retain ownership of after finalizing the deal.
Several Ace Hardware Stores Host Grand Openings
On July 28, Sunbury Ace Hardware in Sunbury, Ohio, celebrated their grand opening, which featured grilling and a petting zoo for kids. Ace Hardware in Otsego, Minn., had a grand opening July 26-27 that included an ice cream truck, giveaways of a Traeger grill, Ego weed whip, and a $200 paint bundle. In Pennsylvania, Ace Hardware New Hope opened its doors today for a grand opening celebration which included promotions, demonstrations, and exclusive sales. E&H Ace Hardware of Middlefield, Ohio. Had a grand opening at the end of June with free barbecue, pizza and grill demonstrations.
L&W Supply Opens Yuma, Arizona, Location
Nationwide distributor of interior building materials L&W Supply opened a new location in Yuma, Ariz., with Matia Arreola as manager. Arreola has worked his way up through the company, filling several positions from driver to sales coordinator and now manager. “Matias’ years of industry and leadership experience make him a perfect fit for this role,” said Mountain West District Manager Walter Reinthaler. “He and his dedicated team will continue to support Yuma-area contractors and provide top-notch materials for their projects.”
