In comments on a shareholder call, Richelieu CEO Richard Lord reported the St. Laurent, Que.,-based hardware manufacturer acquired Decotec and Mibro in December 2019. They operate mostly in GTA and Lord said the move would allow Richelieu to “strengthen our activities in markets where we already are.” Richelieu also added O’Harco in February, which operates three centres in Nebraska, Iowa and South Dakota. Lord said the three acquisitions represent sales of approximately $60 million on an annual basis and should result in sales synergies. Richelieu is now up to 82 centres in North America.
Decotec is a distributor of Egger wood products in Canada. It supplies European decorative panels, specializing in textured, high gloss, and super matte surfaces. Matching edge tapes and high pressure laminates are also available.
Mibro Group is a Toronto-based, 65-year-old distributor of products to the DIY, contractor, automotive and industrial markets across North America and, more recently, Central and South America. Product categories include power tool accessories, chain and chain accessories, clamping, rope and rope accessories and kinetic vehicle recovery rope. The Miobro Group combines efficient manufacturing, a comprehensive product assortment, innovative packaging and merchandising to bring exceptional products to major home improvement retailers, mass merchants, automotive parts suppliers and industrial supply houses. Operating out of two North American warehouse facilities, and a warehouse in China.