Announcement | House-Hasson Hardware

House-Hasson Finalized Acquiring Former Midwest Wholesale Hardware Distributor Bostwick-Braun

Aug 25, 2024

House-Hasson Finalized Acquiring Former Midwest Wholesale Hardware Distributor Bostwick-Braun

KNOXVILLE, Tenn., July 2, 2024 — House-Hasson Hardware, America’s largest independent regional hardware distributor, has finalized its acquisition of former Midwestern U.S. wholesale hardware distributor Bostwick-Braun’s warehouses and inventory.

The acquisition adds to House-Hasson 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.

House-Hasson President & CEO Steve Henry

“Our focus is dealer profitability, and that focus is the reason for this acquisition,” said 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.”

“Independent hardware stores and lumberyard dealers have a great future,” Henry said. “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.”

A due diligence process has been underway since the acquisition letter of intent was signed on Tuesday, March 19, 2024. The deal was finalized on Friday, 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 said. “Our debt-free status gives us great latitude and flexibility to act on behalf of our dealers’ best interests.”

To this point, House-Hasson has served customers in 23 states and the Caribbean Basin from its 500,000-square-foot headquarters warehouse in Knoxville, Tenn., and 250,000-square-foot warehouse in Prichard, W. Va. Adding to its operations the former Bostwick-Braun warehouses in West Helena, Ark., and Ashley, Ind., 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 with us,” Henry said. “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.”

House-Hasson, founded in 1906, is privately owned. The company’s website is www.househasson.com.

Contact:
George Korda, (865) 567-2163, gkorda@kordacom.com
Chuck Morris, (865) 300-5669, cmorris@househasson.com

SOURCE House-Hasson Hardware Company, Inc.

House-Hasson Signs Letter of Intent to Acquire Midwest Wholesale Hardware Distributor Bostwick-Braun

Mar 21, 2024

House-Hasson Signs Letter of Intent to Acquire Midwest Wholesale Hardware Distributor Bostwick-Braun

KNOXVILLE, Tenn., March 21, 2024 /PRNewswire/ — 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.

House-Hasson President & CEO Steve Henry

“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.

“Bostwick-Braun has a remarkable history, and, to its leadership’s credit, they recognized that now is a good time to partner together to better serve our combined customers,” Henry said.

Richichi said that Bostwick-Braun has a nearly 170-year history of working for customers throughout the U.S. Midwest.

“Bostwick-Braun is privileged to have served so many wonderful customers in our long history,” Richichi said. “Our doors opened only 79 years after the U.S. became an independent nation: since the day we opened we’ve enabled our customers to be successful.

“Our long history was possible because of generations of employees dedicated to doing a great job for our customers. Our assessment, after much consideration, is that House-Hasson, with its history and dealer-profitability focus, is exactly the right company to continue our legacy.”

The acquisition described in the letter of intent will be complete after a period of due diligence. The pending acquisition’s cost is being privately handled between the two companies.

In 2023, privately-owned House-Hasson, founded in 1906 in Knoxville, had total sales of $350 million; Bostwick-Braun’s sales were approximately $80 million.

There are 110 employees working in Bostwick-Braun’s two warehouses; House-Hasson plans to try to retain as many employees as possible. House-Hasson’s staff currently numbers 465 employees in Knoxville and Prichard.

The 56,000 stock keeping units (SKU) in Bostwick-Braun’s warehouses will be incorporated into House-Hasson’s system. House-Hasson presently has 55,000 SKUs in its two warehouses.

House-Hasson serves dealers in 23 states and the Caribbean Basin. The company’s website is www.househasson.com.

Contact:
George Korda, (865) 567-2163, gkorda@kordacom.com
Chuck Morris, (865) 300-5669, cmorris@househasson.com

SOURCE House-Hasson Hardware Company, Inc.

House-Hasson names operations vice president for headquarters warehouse

Mar 1, 2024

NEWS RELEASE

Contact:
George Korda, (865) 567-2163
Chuck Morris, (865) 300-5669

House-Hasson names operations vice president for headquarters warehouse

(KNOXVILLE, Tenn.) February 28, 2024 — House-Hasson Hardware has named a Vice President of Operations in charge of Warehousing and Transportation for House-Hasson’s 450,000-square-foot Knoxville operation.

Wayne Walls, the new operations vice president, has a 36-year professional history in logistics, including positions at Procter & Gamble, Kraft, and GEODIS. His most recent position was serving as a Regional General Operations Manager at True Value Company.

“We wanted the best to head our Knoxville operations, and we found him,” said Steve Henry, House-Hasson, president and CEO. “We’re focused on dealer profitability, and everything we do in our warehouses has to be a best practice to make sure we’re meeting our goal of serving our independent hardware store and lumberyard dealers.”

“With technology constantly changing, Wayne’s experience and knowledge makes him the right person to head this vital area of service to our dealers,” Henry added.

House-Hasson is America’s largest independent regional hardware distributor. The Knoxville warehouse, which Walls oversees, is the company’s largest. A second warehouse is in Prichard, WV.

Walls is a Greeneville, Tenn., native. He earned his bachelor’s degree from the University of Tennessee and an MBA from Indiana University. He is also a Certified Management Accountant.

“Anyone familiar with independent hardware and lumberyard retailing knows that House-Hasson is a major force in the industry,” Walls said. “The company gained this reputation by thinking, planning, and working to improve its dealers’ ability to sell to their customers. We’ll continue to make improvements in our processes, procedures, and technology to benefit our dealers. We win when they win.”

With True Value, Walls managed the largest distribution center in the company’s network. Under his leadership, the center achieved cost reductions and efficiency gains, and earned the company’s Pinnacle Award for the best on-time delivery record. Walls is also experienced in engineered labor standards, warehouse management systems and warehouse layout.

House-Hasson Hardware serves some 2,500 dealers in 23 states and the Caribbean Basin. The company’s website is www.househasson.com.

END

House-Hasson’s New Leadership

Feb 23, 2024

NEWS RELEASE

Contact:
George Korda, (865) 567-2163
Chuck Morris, (865) 300-5669

House-Hasson Announces New Leadership Position

(KNOXVILLE, Tenn.) February 12, 2024 — House-Hasson Hardware, America’s largest independent regional hardware distributor, has created a new leadership post – Senior Vice President Sales, Growth, & Development – and named longtime industry veteran Jason Hanegan to fill the position.

Hanegan served as a consultant for House-Hasson before being tapped for the new corporate role, said Steve Henry, the company’s President and CEO.

“There’s no doubt that Jason will demonstrate that we made the right decision in asking him to join House-Hasson,” Henry said. “He’s a valuable addition to our leadership team, is establishing strong personal relations with our dealers, and will do a great job leading our sales and support staff.”

House-Hasson has 65 sales staff members serving dealers in 23 states and the Caribbean Basin.

Hanegan said he’s long admired House-Hasson’s growth, longevity, and reputation as a company that makes its top priority the profitability of the independent hardware store and lumberyard dealers the company serves.

“House-Hasson is legendary for its role as a hardware products distributor and its service to dealers,” Hanegan said. “Reflecting on what I wanted to do, and where I wanted to be, House-Hasson has it all: it’s a privately-held, family-owned company with 118 years of selling goods that people need and want, and it’s enabling the success of independent dealers on whom their stores’ customers depend. House-Hasson is a company with a marvelous legacy and a great future. And beyond that, it doesn’t take long to love living in East Tennessee.”

Henry said Hanegan has identified a Top 20 list of initiatives focused on company performance and industry best practices, and he is analyzing policies and procedures to ensure their effectiveness in serving House-Hasson’s customers. Reporting to him are these House-Hasson departments: Sales, Marketing, Retail Services, Customer Service, and Strategic Retail Management.

“Jason has more than 20 years of experience in building and leading regional and national sales teams, business development, process improvement, and change management,” Henry said. “He’s accomplished this for regional, national, and international hardlines wholesalers.”

Said Hanegan, “House-Hasson will be aggressive with process improvement, expansion into new markets, and developing tools for our customers to be better retailers, all while maintaining our local touch. Everyone at House-Hasson comes to work every day with a servant mentality and determined to be better today than we were yesterday, for our customers’ benefit.”

House-Hasson Hardware serves some 2,500 independent hardware store and lumberyard dealers. The company’s website is www.househasson.com.

END

House-Hasson Jan. dealer market sees big jump in attendance, sales

Feb 23, 2024

NEWS RELEASE

Contact:
George Korda, (865) 567-2163
Chuck Morris, (865) 300-5669

House-Hasson Jan. dealer market sees big jump in attendance, sales

(KNOXVILLE, Tenn.) February 7, 2024 — House-Hasson Hardware, America’s largest independent regional hardware distributor, saw its January 2024 dealer market attendance jump by more than a third over the 2023 turnout, signaling that independent hardware store and lumberyard dealers anticipate high sales volume in 2024.

Dealer attendance increased 34% at House-Hasson’s Jan. 2024 Leap Into Savings dealer market, held at the Gaylord Opryland Resort & Convention Center, in Nashville, Tenn.

“We were pleased with last year’s turnout, but January’s Leap Into Savings market shot past what we were expecting in dealer turnout, and we also had big increases in new vendors and booths,” said Steve Henry, House-Hasson president and CEO. “Dealers took advantage of market buying opportunities that will enable them to meet or exceed their margins, and dealer profitability is our No. 1 priority.”

Warehouse sales were up 27% over 2023’s market, and is an indicator of dealer confidence, said Jason Hanegan, House-Hasson Senior Vice President Sales, Growth & Development.

“When dealers are pessimistic about the economy, or even cautious about how their sales will fare in the coming months, they can tend to be more reserved in their buying patterns,” Hanegan said. “However, given what we saw at the market, it appears dealers are looking forward to robust customer traffic in their stores.”

Market vendor attendance was up 25% over 2023, and 140 new booths were on the floor, leading to an expansion over past years of convention center floor space used by House-Hasson.

House-Hasson’s next dealer market, called Gateway to Summer, is scheduled June 13-15, 2024, at the Sevierville Convention Center, Sevierville, Tenn., near the Great Smoky Mountains National Park.

Later this year, House-Hasson will also hold a fall dealer market in Charlotte, North Carolina for the first time. The market is scheduled for October 10-12, 2024 at the Charlotte Convention Center.

House-Hasson Hardware serves some 2,500 dealers in 23 states and the Caribbean Basin. The 118-year-old, family-owned company has some 500,000 square-feet of warehouse space at its Knoxville, Tenn., headquarters, and 300,000 square-feet at its Prichard, W. Va., facility. The company’s website is www.househasson.com.

END

Thank you, customers, for your friendship during this difficult time.

Feb 14, 2024

Thank you, customers, for your friendship during this difficult time.

Wednesday, February 14, 3:00 p.m.

House-Hasson letterhead

Thank you, friends.

When you hit a rough patch, you count on your friends.

House-Hasson hit a rough patch, and we’ve seen and heard from our friends. Our customers. We couldn’t be more grateful to you. Every one of you.

When on Jan. 15 a massive snowstorm hit Knoxville that damaged our warehouse and shut it down for days, we naturally had concerns about how you would react. You count on us, just as we count on you.

The answer was an outpouring of concern, understanding, and patience, from you, our friends.

We wondered a little bit whether our warehouse situation might affect our January dealer market in Nashville. The market’s results show it to be the most successful market we’ve ever held in Music City. You read that right. EVER.

It broke records in sales and attendance that, quite frankly, astound us. You demonstrated your support for us, again.

Ford Motor Company founder Henry Ford once said, “My best friend is the one who brings out the best in me.” You, our customers, inspire us to want to do our best for you, every day.

We hit a rough patch, and our friends were there for us. From all of us at House-Hasson Hardware, thank you.

Sincerely,

Steve Henry Signature - without background

Steve Henry
President & CEO
House-Hasson Hardware Company

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