Do it Best wants to take over bankrupt competitor True Value

In the USA, there are currently major shifts in the co-operation and wholesaler sector serving independent hardware retailers. The hardware wholesaler True Value, headquartered in Chicago, has filed for bankruptcy and agreed to be taken over by its competitor Do it Best. This would increase the network of Do it Best-affiliated dealers to more than 8,000 locations in the U.S. and more than 50 countries worldwide.

Do it Best is currently ranked eighth in the industry by the Home Improvement Report Retail Worldwide, with approximately 3,400 stores and annual sales of the equivalent of Euro 4.4709 bn in the U.S. (including the Gillman, Stone’s and Hacienda sales lines). True Value serves around 4,500 hardware stores worldwide. Their turnover is stated as around USD 10 mio. By way of comparison: Ace Hardware, the largest hardware cooperative in the USA, had around 5,000 stores in its home…