True Value signs National Lumber & Hardware in P.R.
True Value Company on Tuesday announced National Lumber and Hardware as the newest purchasing partner of the cooperative.
With more than 50 stores in Puerto Rico, National Lumber and Hardware is the island’s largest hardware retailer.
“We’re excited to enter into this new relationship with National as this marks an important expansion of the Puerto Rican market for True Value,” said Lars Hybel, vice president of International, True Value Company.
The growth of True Value’s international presence is a key initiative as the company focuses on its long-term strategic plan.
“We are pleased to become part of the True Value family as we focus on specific lines to further make the National line portfolio and product assortment more competitive,” said Israel Kopel, president, National Lumber and Hardware.
True Value Company, headquartered in Chicago, is one of the world’s largest retailer-owned wholesale hardware cooperatives with gross billings of more than $2 billion and revenue of $1.5 billion in 2014.
The True Value cooperative includes approximately 4,500 independent retailer locations worldwide operating under the store identities of True Value, Grand Rental Station, Taylor Rental, Party Central, Home & Garden Showplace and Induserve Supply.
True Value had a strong presence in Puerto Rico until early 2012, when Illinois-based Ace Hardware, entered into an agreement to re-brand the former’s 13 stores in Puerto Rico, as this media outlet reported.