In Canada, Richelieu Hardware continues acquisition streak
Richelieu Hardware closed on two more acquisitions, bringing to nine the number of businesses acquired since the beginning of 2010.
The two latest acquisitions involve Madico Distribution, a Canadian distributor of floor protection products, and Provincial Woodproducts.
Madico develops and distributes specialty products under the well-known Feltac, Feltac Ultra, Slidex, Anti-Skid, Solid Wood Ultra Cups and Pro-tec-tors brands. This company serves a large customer base of hardware retailers and renovation superstores, mainly in Canada and also in the United States. This acquisition represents additional sales of approximately $5 million on an annualized basis.
Richelieu also closed on the acquisition of 85% of the shares of Provincial Woodproducts, a distributor of hardware, finishing products, panels and hardwood floors benefiting. Through Provincial, Richelieu reinforces its presence in Newfoundland and covers the entire Canadian market.
Richelieu is a distributor, importer and manufacturer of specialty hardware and complementary products.