A Year of Change: Top 10 News Stories of 2024

From major industry-shaking acquisitions to store milestones, industrywide legislation to current events that impacted the channel, the headlines reflected what a monumental year 2024 was for the independent home improvement industry. The Hardware Retailing editorial team took a look back at the news stories that impacted the hardware industry in 2024 and share the 10 hottest headlines and excerpts from these news
stories. Visit hardwareretailing.com/industry-news for the full stories.

1. True Value Files for Chapter 11 Bankruptcy, Do it Best Bids to Acquire AssetsIn one of the biggest deals the independent home improvement industry has seen in decades, Do it Best announced its bid in October to acquire substantially all assets from True Value, which filed for Chapter 11 bankruptcy under private equity ownership. The acquisition would create a worldwide store network exceeding 8,000 locations in the U.S. and more than 50 countries.
2. Kelly-Moore Paints Announces Immediate Cease in OperationsAfter nearly 80 years in business, the Texas-based paint manufacturer abruptly ceased its operations in January. The immediate closing was caused by mounting legal liabilities in relation to nearly $600 million in payments on asbestos lawsuit settlements still owed. The company was also impacted by the inability to address supply chain challenges coming out of the COVID-19 pandemic.
3. House-Hasson Acquires Bostwick-BraunHouse-Hasson Hardware finalized its acquisition of former Midwestern U.S. wholesale hardware distributor Bostwick-Braun’s warehouses and inventory in July. The acquisition adds two warehouses in Indiana and Arkansas, as well as more than 45,000 stock-keeping units (SKU) to its existing 55,000 SKU inventory.
4. Orgill a Major Supporter of 2024 Independent Home Improvement ConferenceBringing together the independent channel, the 2024 Independent Home Improvement Conference had a strong Orgill presence. Along with being a wholesaler sponsor, Orgill hosted the Celebration of Independents with Do it Best and organized several partner events to unite the industry.
5. Ace Hardware Celebrates 100 YearsThe largest retailer-owned hardware store cooperative in the world celebrated 100 years of operations in 2024, along with opening over 100 new stores in the first half of the year, including its 5,000th domestic location. Ace’s growth was fueled by existing reteailers opening additional locations and competitor stores converting to Ace.
6. Do it Best, United Hardware MergeIn March, the intent to merge between both Do it Best and United Hardware was approved, bringing together two industry leaders with a shared commitment to exceptional service, quality products and a comprehensive range of programs designed to support the growth and success of independent retailers. The merger delivered benefits to member-owners, employees and customers through enhanced scale, efficiency and innovation.
7. Home Hardware Celebrates 60 Years in BusinessSince its inception in 1964, Canadian home improvement retailer Home Hardware Stores Limited has grown to more than 1,000 stores operating under its brand. The yearlong celebration included a nostalgic brand campaign and store contests to celebrate the anniversary.
8. Credit Card Competition Act Stagnant in 2024The Credit Card Competition Act, introduced in 2023, aims at increasing competition in the credit card market by requiring large credit card issuing banks to offer a choice of at least two networks for processing transactions or an alternative to Visa or Mastercard. Since its introduction in the U.S. Senate, it has not moved forward for voting, largely due to opposition from Visa, Mastercard, American Airlines and United Airlines.
9. Retailers Assist in Hurricane Relief Efforts As communities across the southeast recovered from the devastating impacts of Hurricane Helene and Milton, independent home improvement retailers in those areas and beyond stepped up and spearheaded recovery efforts, collecting donations and sending important supplies to those in need.
10. Port Strike Affects Retailers NationwideIn October, the International Longshoremen’s Association (ILA) began its first large-scale strike in over 50 years, which lasted three days before a tentative agreement on wages was made between the ILA and the U.S. Maritime Alliance. The strike was suspended until January 15 to allow time to negotiate.