TIM-BR MARTS Ltd. Acquires CanWel Hardware and Assumes Distribution for its National Dealer Network
 Print this Article | Send to Colleague
TIM-BR MARTS Ltd., one of Canada’s largest buying groups for Independent lumber, building material and hardware dealers, announced that it has entered into an agreement to acquire CanWel Hardware from CanWel Building Materials Group Ltd.
The deal includes two hardware distribution operations in Victoriaville, QB, and London, ON, plus two Chalifour building material warehouses in Quebec. It also provides TIM-BR MARTS Ltd. with ownership of the "PRO" name plus licensing rights to the "ACE" brand name in Canada. Financing for the transaction will be provided by HSBC.
"This is a turning point for our Company," said Tim Urquhart, President and CEO of TIM-BR MARTS Ltd. "With this acquisition, we will further empower our network of strong independent TIM-BR MART Dealers. They are the leading purchasers of building materials in Canada and now they will be the leaders in hardware as well."
Urquhart noted that the company plans to welcome all current CanWel Hardware customers, emphasizing that the acquisition will not disrupt supply from the four warehouses. "It is business as usual – actually, we aim to be better than usual," he commented.
|
