- Richelieu Hardware Ltd., a cabinetry hardware, moulding and veneer manufacturer, said it has acquired Kinast Distributors, a Hanover Park, IL distributor of hardware, laminates, finishing and complementary products targeted to kitchen cabinet makers and the residential and commercial woodworking industry.
Richelieu said the deal increases its sales by about $10 million annually and increases its list of U.S. distribution centers to a total of 22.
On Aug. 31, Richelieu said it had closed on the acquisition of New Century Distributors Grp LLC, a distributor of specialty hardware products for kitchen cabinet manufacturers and the residential and commercial woodworking industry, based in Avenel, NJ.
At the closing of the New Century deal, which added $3 million to its revenue stream, Richelieu said it put one more deal - the Kinast acquisition - in the pipeline. It was Richelieu's fifth acquisition since the beginning of the year, which the company said all told raises its annual revenues by $70 million.
Other deals completed this year included Woodland Specialties of New York; Raybern Company of Connecticut; and Gordon Industrial Materials of in Montreal and Mississauga, Canada.
Richelieu said it carries more than 70,000 different items targeted to a base of over 40,000 customers served by 30 distribution centers across Canada, and 22 in the United States. It also operates two manufacturing plants in Canada: Cedan Industries Inc., which produces veneer sheets and edgebanding products, and Menuiserie des Pins LtÃ©e which window and door components and decorative mouldings.
Have something to say? Share your thoughts with us in the comments below.