Hardware store supplier takes over True Value

Last month, Do it Best announced the acquisition of competitor True Value after True Value announced bankruptcy in October.

The acquisition adds inventory, brand rights and paint manufacturing facilities to Do It Best. Do it Best will continue to support independent retailers and to True Value retailers. Based in Fort Wayne, Indiana, Do it Best is a member-owned hardware, lumber and building materials buying cooperative. With annual sales of nearly $6 billion, Do it Best serves member-owned locations across the United States and in more than 60 other countries.

Do it Best CEO Dan Starr acknowledged the work to complete the acquisition since True Value filed for bankruptcy Oct. 14.

“This has been a challenging process,” said Starr. “However, the shared commitment from our team and the True Value team has made today possible. We are now proud to be the world’s largest cooperative in our space and that positions us to make a real difference for all our store owners.”

Starr said True Value will operate as a separate subsidiary.

“We’re excited to welcome True Value retailers and associates into the Do it Best family,” Starr added. “Our commitment to championing the independent retailer is at the heart of everything we do and I know our True Value team joins us in this mission. This acquisition is about ensuring our collective success, now and in the future.”