House-Hasson Acquires Bostwick-Braun
House-Hasson Hardware, America’s largest independent regional hardware distributor, has signed a letter of intent to acquire Bostwick-Braun Hardware, a Midwestern U.S. wholesale hardware distributor, officials of both companies have announced. The acquisition will include warehouses and inventory.
Steve Henry, president and CEO of House-Hasson, and Pete Richichi, CEO of Bostwick-Braun, said the letter of intent was signed Tuesday, March 19.
“We believe in the future of independent hardware stores and lumberyards,” Henry said. “These businesses are owned by many thousands of men and women, husbands and wives, sons and fathers, mothers and daughters, and we want to make sure they continue to prosper. Their profitability is our purpose.
“When completed, this acquisition doubles the number of our distribution centers, grows our inventory, and puts us in an even stronger position to provide everything our dealers need,” Henry said.
House-Hasson’s main warehouse is at its Knoxville, Tenn., corporate headquarters; a second warehouse is in Prichard, W. Va. With the addition of Bostwick-Braun’s West Helena, Ark., and Ashley, Ind., warehouses, House-Hasson will have more than 1.1 million square feet of warehouse, receiving and shipping space.
