True Value Company added 146-unit Carter Lumber to its list of customers. The two companies announced a partnership agreement early Monday morning.
Based in Kent, Ohio, and with locations in the Midwest, Southeast and Northeast, Carter Lumber had sales of $1.365 billion in 2017, according to the latest HBSDealer Top 300 report.
“We were delighted to welcome Carter Lumber to our recent Fall Reunion in Denver, to share what we’re all about—our energy, our innovation and our vision for the future,” said John Hartmann, president and CEO of Chicago-based True Value Company. “This proved to be the catalyst to welcome their business into our family. I look forward to our collaboration enhancing both companies and continuing to transform the industry.”
Following ACON Investment’s acquisition of True Value in April 2018, and the subsequent change in the former co-op’s business structure, Carter Lumber expressed interest in doing business with the new company, according to the announcement.
“Though the former co-op model wasn’t relevant to us, True Value’s new business model intrigued us to explore their offering,” said Adam Lombard, VP of product management, Carter Lumber. “We found that True Value offered a different focus on growth, dedicated to our needs and goals. Above all, the team took the time to understand what matters to us and put a great deal of thoughtfulness into our business plan.”
True Value’s commitment to retailers’ growth – from single stores to multi-store chains – along with its flexibility and focus on independence, resonated with Carter Lumber’s leadership by offering superior support, access to new and customized categories, and innovative resources.
“True Value is bringing an impressive service and value-added program to the table,” added Justin Drerup, Director of Hardlines, Carter Lumber. “Their people are engaged and display a genuine excitement in Carter Lumber. We’re anticipating the True Value partnership to be impactful as we continue to grow.”
The privately held, family-owned Carter Lumber was founded in 1932. In 2007, the company received the HBSDealer ProDealer of the Year award.