What True Value’s New Ownership Means for the Chain

With the deal done for Do it Best to take over the hardware and building products retailer it could mean new growth for True Value.

With over 8,000 stores and annual revenues of more than $6 billion the newly combined company becomes an even more significant player on the building products retail scene following a merger that the company has called “monumental” and “transformative.”

“We’re excited to welcome True Value retailers into the Do it Best family,” Dan Starr, CEO of Do it Best, proclaimed following the acquisition becoming official. “Our commitment to championing the independent retailer is at the heart of everything we do, and this acquisition is about ensuring that success, now and in the future.”

True Value had filed for bankruptcy in October and Do it Best emerged as the so-called “stalking-horse” bidder, eventually sealing the deal last month. True Value will operate as a separate subsidiary at least for now, the company said, but the acquisition allows it to use new assets in the areas of inventory, branding and manufacturing to True Value.

“This has been a challenging process,” Starr said. “However, the shared commitment from our team and the True Value team has made today possible. We are now proud to be the world’s largest cooperative in our space, and that positions us to make a real difference for all our store owners.”

Once the acquisition was completed, Do it Best put its new management structure in place, naming Nick Talarico as president of Do it Best and Dent Johnson as president of True Value. Talarico had been Do it Best’s executive vice president of sales and marketing while Johnson was the company’s executive vice president of operations.

Several former True Value executives staying on under the new structure include Eric Lane, senior vice president of marketing, and John Vanderpool, senior vice president of manufacturing. Former True Value CEO Chris Kempa is not staying on, the company said. The new team at True Value also includes Justin Hanford, vice president of merchandising, Eric Lane, senior vice president of marketing and Tim Miller, senior vice president of logistics & distribution.

“This is a generational opportunity that will shape the future of our cooperative and our industry,” said Starr. “We’re focused on taking our time to get it right. We ask for patience as we integrate True Value and help everyone grow and achieve their dreams.”

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