Richelieu acquires Madico Distribution Inc.

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Richelieu Hardware Ltd. announced it has acquired Madico Distribution Inc. ("Madico"), a Canadian leader in floor protection products. From its facilities in the Quebec City area, Madico develops and distributes an extensive selection of specialty products, notably under the well-known Feltac™, Feltac Ultra™, Slidex™, Anti-Skid™, Solid Wood Ultra Cups™ and Pro-tec-tors™. Brands. This company serves a large customer base of hardware retailers and renovation superstores, mainly in Canada and also in the United States.

Through this acquisition Richelieu further increases the diversification of its offering to hardware retailers and renovation superstores by adding a product category, while also integrating an experienced team. This acquisition is the second closed by Richelieu since the beginning of 2011 and represents additional sales of approximately $5 million on an annualized basis.

As announced at the end of 2010, the Company has also signed another agreement that should materialize in the next weeks. With this upcoming acquisition and the eight others closed since the beginning of 2010, Richelieu is expected to increase its sales by some $100 million on an annualized basis.

Profile as at February 11, 2011
Richelieu is a leading North American distributor, importer and manufacturer of specialty hardware and complementary products. Its products are targeted to an extensive customer base of kitchen and bathroom cabinet, furniture, and window and door manufacturers plus the residential and commercial woodworking industry, as well as a large customer base of hardware retailers, including renovation superstores. Richelieu offers customers a broad mix of high-end products sourced from manufacturers around the world. Its product selection consists of more than 70,000 different items targeted to a base of some 60,000 customers who are served by 60 centres in North America – 35 distribution centres in Canada, 23 in the United States and two manufacturing plants in Canada, specifically Cedan Industries Inc. which specializes in the manufacture of a wide variety of veneer sheets and edgebanding products, and Menuiserie des Pins Ltée which manufactures components for the window and door industry and a broad selection of decorative mouldings.

Certain statements contained in this press release may constitute forward-looking statements within the meaning of securities legislation. Richelieu’s management would like to point out that, by their very nature, forward-looking statements involve a number of risks and uncertainties such that the Company’s actual and future results could differ materially from those indicated. There can be no assurance as to the materialization of the results, performance or achievements as expressed in or underlying the forward-looking statements. Unless required to do so pursuant to applicable securities legislation, Richelieu’s management assumes no obligation as to the updating or revision of the forward-looking statements as a result of new information, future events or changes.

For information:
Richard Lord, President and Chief Executive Officer
Alain Giasson, Vice-President and Chief Financial Officer
Tel: (514) 336-4144 www.richelieu.com