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House-Hasson Hardware has finalized its acquisition of former Midwestern U.S. wholesale hardware distributor Bostwick-Braun’s warehouses and inventory.
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. The facility, inventory and employee expansion will give House-Hasson a springboard to strengthen its position in multiple states and to grow its independent hardware store and lumberyard customer base in states it hasn’t previously served.
“Our focus is dealer profitability, and that focus is the reason for this acquisition,” says Steve Henry, House-Hasson president and CEO. “We’re adding the Arkansas warehouse to our existing ability to serve customers in Texas, Louisiana, Arkansas and other southwestern states. The Indiana warehouse opens opportunities for us in Indiana, Ohio, Pennsylvania, New York, Michigan and other states in the Northeastern region.”
A due diligence process has been underway since the acquisition letter of intent was signed on March 19, 2024. The deal was finalized on June 28. Terms of the cash sale are private between the parties.
“Our corporate policy has long been to not borrow money to finance acquisitions,” Henry says. “Our debt-free status gives us great latitude and flexibility to act on behalf of our dealers’ best interests.”
House-Hasson has served customers in 23 states and the Caribbean Basin from its 500,000-square-foot headquarters warehouse in Knoxville, Tennessee, and 250,000-square-foot warehouse in Prichard, West Virginia. Adding to its operations the former Bostwick-Braun warehouses in West Helena, Arkansas, and Ashley, Indiana, gives House-Hasson a total of approximately 1.3 million square feet of warehouse, receiving, shipping and administrative space.
Additionally, 75 former Bostwick-Braun employees have transitioned into the House-Hasson workforce, bringing the total number to 532 House-Hasson employees serving dealers from the company’s now four locations.
“We’re delighted to have these great people join us. Throughout the due diligence process, we’ve been impressed with their work and that they understand and want to be part of our focus on dealer service and profitability,” Henry says. “Independent hardware stores and lumberyard dealers have a great future. The need for them is growing every day. They provide an unmatched level of local service and responsiveness to their customers. We’re proud to serve them, and now we’ll be able to serve them even better.”
