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House-Hasson Signs Letter of Intent to Acquire Midwest Wholesale Hardware Distributor Bostwick-Braun
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2024-04-15
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'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.
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.
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-Hassonz
hardware distributor
Bostwick-Braun
wholesale hardware distributor
acquisition
letter of intent
warehouse
inventory
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