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Richelieu closes two new acquisitions PDF Print E-mail
Written by Canada News Wire   
MONTREAL (03 December 2009) - Hardware and component specialist Richelieu Hardware Ltd. has closed two new acquisitions in North America while signing an agreement to complete another acquisition that should close in January 2010.

The two recently closed acquisitions add annual sales of approximately $6 million to Richelieu's revenues and contribute immediately to its earnings.

Consistent with the publicly-held manufacturer and importer's strategy to offer a full range of finishing products to manufacturers in the woodworking segment and its "one stop-shop" approach, Richelieu has acquired Paint Direct of Calgary, Alberta, a distributor of finishing products, stains, lacquers and various other products. This acquisition brings Richelieu's Canadian network to 30 distribution centres.

In the United States, Richelieu has acquired Woodland Specialties of Syracuse, New York, a distributor of hardware products, high-pressure laminates, finishing products and other complementary products targeted mainly to kitchen cabinet makers and the commercial woodworking segment.

With the acquisition of Woodland, Richelieu penetrates a new geographic market and increases its U.S. distribution network to 18 centres.

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