MONTREAL - Richelieu Hardware Ltd. has acquired Weston Premium Woods Inc. Terms of the acquisition were not disclosed.
Richelieu said the addition of Weston's net assets will represent additional sales of approximately $60 million on an annual basis. It will enhanceRichelieu's presence in the wood and panel marketplace. Founded in 1953 and based in Brampton, Ontario, Weston Premium Woods distributes a range of materials, decorative products and hardwoods targeted to kitchen and bathroom cabinet, storage and closet, home furnishing and office furniture manufacturers, as well as residential and commercial woodworkers.
Announced April 18, Richelieu's acquisition of the Canadian distributor follows on the heels of its four U.S.-based acquisitions last year: Cornerstone Hardware & Supplies, JFH Corp., Eveready Hardware and Neils Sorenson Hardware.
Richelieu (TSX: RCH) is a North American distributor, importer and manufacturer of specialty hardware and complementary products. Its products are targeted to kitchen and bathroom cabinet, storage and closet, home furnishing and office furniture manufacturers, residential and commercial woodworkers, and hardware retailers including renovation superstores.
2016 consolidated sales for Richelieu reached $844.5 million, an increase of 12.6 percent over 2015.
Headquartered in Montreal, Richelieu has 37 distribution centers in Canada and 31 in the United States, along with two manufacturing plants in Canada: Cedan Industries Inc. which produces veneer sheets and edgebanding products, and Menuiserie des Pins Ltée which manufactures components for the window and door industry as well as decorative mouldings.