Indiana warehouse included in Bostwick-Braun Hardware acquisition
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Knoxville, Tennessee-based House-Hasson Hardware has acquired the warehouses and inventory of Bostwick-Braun Hardware, a wholesale hardware distributor headquartered in Ohio.
The deal includes Bostwick-Braun’s warehouse located in the northeast Indiana town of Ashley.
Financial terms of the deal are not being disclosed. House-Hasson said in a news release that the deal, which closed on June 28, also includes a Bostwick-Braun warehouse in Arkansas.
House-Hasson CEO Steve Henry said the acquisition was made to support dealer profitability. The acquisition of the Ashley warehouse, he said, opens up new opportunities for the company in Indiana and multiple states in the Northeast.
“Independent hardware stores and lumberyard dealers have a great future,” Henry said. “The need for them is growing every day. They provide an unmatched level of local service and responsiveness to their customers. We’re proud to serve them, and now we’ll be able to serve them even better.”
House-Hasson said 75 former Bostwick-Braun employees have joined the company, though it was not clear how many of those are in Indiana. The company employs a total of 532 people.
“We’re delighted to have these great people join us,” Henry said in the release. “Throughout the due diligence process we’ve been impressed with their work and that they understand and want to be part of our focus on dealer service and profitability.”
According to Bostwick-Braun’s website, the company also has multiple locations related to its Wayne Fasteners, EBN Industrial Supply, JMC, and Mill Supplies brands in Evansville, Fort Wayne, Indianapolis, Jasper, Terre Haute and Vincennes.
It was not clear if those locations were included in the acquisition. A spokesperson for House-Hasson did not respond to multiple requests for more information from Inside INdiana Business.