Hardware Stores

Quebec, Canada -- Canadian home-improvement chain Rona Inc. said Thursday it has reached an agreement to sell off its plumbing, heating, ventilation and air conditioning business to Emco Corp. in a deal worth about $207 million.

The division sells plumbing, heating, ventilation and air conditioning systems to commercial and industrial construction customers. The move is expected to add additional financial stability to the company, which is in the midst of a three-year turnaround plan.

HOFFMAN ESTATES, Ill. — The Craftsman brand spent Father's Day weekend in Philadelphia with hard core golf fans and putt-putt enthusiasts at the Craftsman Father's Day Miniature Golf Classic.

Attendees were invited to play a free round on the one-of-a-kind miniature golf course specially built by the Craftsman brand and designed by former professional golfer and analyst Gary McCord, featuring Craftsman tools at every hole.  

ROSWELL, Ga. — Scott Home Improvement Solutions will host more than 200 Menards contractors as part of the Scott 160, inviting them to act collectively as Grand Marshal at the inaugural ARCA/Menards 2013 Series Race at Road America in Elkhart Lake, Wis., Saturday, June 22. 

Kimberly-Clark and the Scott brand are partnering with ARCA series sponsor Menards to participate in the ARCA Racing series. Through the partnership, the Scott brand is an official sponsor of the ARCA series, an ARCA Rookie Challenge sponsor and race title sponsor of the Scott 160.

San Jose, Calif. -- A Wednesday report by Bloomberg said that Orchard Supply Hardware Stores Corp. has been given approval by the bankruptcy court to seek bids from liquidators to run going-out-of-business sales at eight underperforming stores and potentially another 22.

Plans to acquire at least 60 stores from bankrupt Orchard Supply Hardware give Lowe’s an increased presence in California and a new small format with expansion potential.

Lowe’s said early Monday that it had entered into an asset purchase agreement with Orchard, which had filed for Chapter 11 bankruptcy, to acquire the majority of Orchard’s assets for approximately $205 million in cash and assume payables owed to nearly all of Orchard’s supplier partners.

Home Depot has plans for a major hurricane preparedness initiative this year, but the program doesn’t begin until nearly two months after residents of storm prone areas should already have plans in place.

San Jose -- Orchard Supply Hardware Stores Corp. is filing for Chapter 11 bankruptcy. As part of the filing, Orchard Supply has reached an agreement for Lowe’s to purchase acquire the majority of its assets for $205 million in cash, plus the assumption of payables owed to nearly all of Orchard’s supplier partners. Under the terms of the agreement, Lowe’s, serving as “stalking horse bidder,” would acquire no less than 60 of Orchard’s stores, based on further due diligence on the store locations.

Atlanta -- Executives from The Home Depot told attendees at an analyst meeting in New York on Monday that the company is focusing on improving its supply chain and Internet operations and expects a moderate recovery in the U.S. housing market. Roughly $450 million of Home Depot’s $1.5 billion capital spending budget for the current fiscal year is slated for IT projects.

In addition, Home Depot is also attempting to improve store productivity and is piloting five paint stores in the Chinese market.