Fort Wayne, IN-based hardware, lumber and building materials cooperative Do it Best completed its acquisition of True Value. Terms of the transaction were not disclosed.

True Value announced it was pursuing a potential sale of the company in an Oct. 4 letter to vendor partners. On Oct. 14, the company began Chapter 11 bankruptcy proceedings to facilitate the sale to Do it Best.

The acquisition includes True Value’s inventory, brand rights and paint manufacturing facilities. True Value will operate as a separate subsidiary of Do it Best to ensure continuity and service for its customers.

“Our commitment to championing the independent retailer is at the heart of everything we do, and I know our True Value team joins us in this mission,” Do it Best CEO Dan Starr said in a Nov. 22 news release. “This acquisition is about ensuring our collective success, now and in the future.”

Do it Best came into the deal comprised of 4,300 member-owned stores across the U.S. and internationally. For its 2014 fiscal year that ended June 29, the company had total sales of $4.57 billion, up 30% compared to 2019. True Value, meanwhile, is a wholesaler and hardgoods store brand that had a roster of approximately 4,500 independently-owned retail members when it declared bankruptcy in mid-October. Do it Best’s news release didn’t state updated figures for True Value’s membership.

Overall, the deal effectively doubles the size of Do it Best’s membership.

“This has been a challenging process,” Starr added. “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.”

To oversee the integration and continued operations, Do it Best announced a leadership team that includes Nick Talarico as President of Do it Best and Dent Johson as President of True Value.

Johnson’s leadership team includes:

• Bill Habegger, Vice President of Information Technology
• Justin Hanford, Vice President of Merchandising
• Eric Lane, Senior Vice President of Marketing
• Tim Miller, Senior Vice President of Logistics & Distribution
• Chris Okapal, Vice President of Sales & Business Development
• Steve Rose, Vice President of Distribution
• Matt Saines, Vice President of Finance
• Rob Schmiedel, Vice President of Operations & Sales Enablement
• Ken Sorg, Vice President of Supply Chain
• Celeste Stevens, Vice President of Human Resources
• John Vanderpool, Senior Vice President of Manufacturing
• Jenna Grannan, Director of Marketing
• Randy Rusk, Director of Communications

Earlier this year, Do it Best completed a merger with United Hardware — a member-owned corporation that provides distribution services for about 610 stores, most of which sell under the Hardware Hank banner. It also services about 800 other stores owned by non-members.