MONTREAL, Sept. 4, 2013 /CNW Telbec/ - Richelieu Hardware Ltd. (TSX: RCH) is pleased to announce that it has acquired the net assets of Hi-Tech Glazing Supplies. This Vancouver-based distributor of door and window hardware serving the British Columbia market, realizes sales of approximatively $5 million.
This acquisition will enable Richelieu to enlarge its offer with products that feature in its short-and long-term strategy, in addition to reinforce its position in a specialized client base.
Profile as at September 4, 2013
Richelieu is a leading North American distributor, importer and manufacturer of specialty hardware and complementary products. Its products are targeted to an extensive customer base of kitchen and bathroom cabinet, furniture, and window and door manufacturers plus the residential and commercial woodworking industry, as well as a large customer base of hardware retailers, including renovation superstores. Richelieu offers customers a broad mix of high-end products sourced from manufacturers around the world. Its product selection consists of 100,000 different items targeted to a base of some 70,000 customers who are served by 62 centres in North America - 35 distribution centres in Canada, 25 in the United States and two manufacturing plants in Canada, specifically Cedan Industries Inc. which specializes in the manufacture of a wide variety of veneer sheets and edgebanding products and Menuiserie des Pins Ltée which manufactures components for the window and door industry and a broad selection of decorative mouldings.
SOURCE: Richelieu Hardwood Ltd.
For further information:
President and Chief Executive Officer
Vice-President and Chief Financial Officer
Tel: (514) 336-4144 www.richelieu.com