HOME HARDWARE ACQUIRES BEAVER LUMBER
By Adnews Staff
Home Hardware Stores Limited of St. Jacobs, Ontario has added 138 stores to its network across Canada. The hardware, building supply and furniture store chain has acquired Beaver Lumber Inc. of Markham, Ontario from Molson Inc. Financial details of the transaction were not disclosed. Beaver Lumber will continue to run as a separate banner and according to Home Hardware "it will be business as usual at all 138 Beaver Lumber stores". Under the transaction, Home Hardware has acquired Beaver Lumber's interest in the stores and real estate, as well as its administrative, purchasing and distribution operations. Home Hardware is considering the option of transferring full ownership of all retail outlets to dealers, in the same way that Home Hardware dealers are 100 per cent owners of independent businesses. Business as usual for Beaver Lumber also includes advertising, which is currently handled in-house. Home Hardware says it will continue to be done in-house for the foreseeable future while advertising for Home Hardware will remain in the hands of its ad agency Sharpe Blackmore Saffer of Toronto.