New hardware giant is born
On Nov. 22, Do it Best announced the completion of its acquisition of True Value hardware. In a news release, the Fort Wayne, Indiana-based company said “this brings significant assets to Do it Best, including inventory, brand rights, and paint manufacturing facilities.”
“This has been a challenging process,” said Dan Starr, CEO of Do it Best. “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.”
“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.”
The combined network of Do It Best and True Value stores could reach more than 8,000 locations in the U.S. Ace Hardware has around 5,900 stores. Home Depot and Lowe’s, together, total less than 4,000 stores.
“This is a generational opportunity that will shape the future of our cooperative and our industry,” said Starr. “We’re focused on taking our time to get it right. We ask for patience as we integrate True Value and help everyone grow and achieve their dreams.”
To support this transformation, Do it Best established a new leadership team.
- Nick Talarico, President of Do it Best
- Dent Johnson, President of True Value.
- Johnson’s True Value leadership team includes:
- Bill Habegger, Vice President of Information Technology
- Justin Hanford, Vice President of Merchandising
- Eric Lane, Senior Vice President of Marketing
- Tim Miller, Senior Vice President of Logistics & Distribution
- Chris Okapal, Vice President of Sales & Business Development
- Steve Rose, Vice President of Distribution
- Matt Saines, Vice President of Finance
- Rob Schmiedel, Vice President of Operations & Sales Enablement
- Ken Sorg, Vice President of Supply Chain
- Celeste Stevens, Vice President of Human Resources
- John Vanderpool, Senior Vice President of Manufacturing
- Jenna Grannan, Director of Marketing
- Randy Rusk, Director of Communications
