Â鶹´«Ã½ columnist and vice president of lumber and building materials for Do it Best answers questions on the company’s recent acquisition of True Value and how it will impact both companies going forward.
What made True Value attractive to Do it Best for an acquisition?
True Value’s strong dealer network, many of which are well-positioned in Â鶹´«Ã½, perfectly complements our core strengths and growth ambitions. Current Do it Best members will benefit from expanded buying power. Current True Value retailers now can purchase lumber and building materials on a much grander scale than ever before and are being serviced by a much larger team of experts.
True Value’s strong retail brand, extensive unprompted consumer awareness (measured at more than 75%), and its legacy of serving independent retailers made it a compelling opportunity. The acquisition presented Do it Best with the ability to expand scale, enhance negotiating power with vendors, and improve operational efficiencies through a more dense distribution network. Additionally, Do it Best was able to secure the True Value assets at a price that ensured long-term strategic gains without taking on legacy liabilities.Â
The acquisition underscores our commitment as the champion of independents to delivering unmatched value and support to Do it Best members, ensuring their long-term profitability and growth.
How has the transition so far been when talking with True Value retailers?
True Value retailers who sell lumber and building materials are hungry to work with our team. Our Â鶹´«Ã½ Field Sales team has been out visiting True Value Â鶹´«Ã½ dealers in order to answer any of their questions, while showing them how easy it is for them to take advantage of working with an Â鶹´«Ã½ team that is 20 times larger than what they previously had, and that sells over $3 billion in Â鶹´«Ã½ products annually.
Overall, the sentiment is relief and reassurance. Â鶹´«Ã½ dealers are reassured by Do it Best’s commitment to transparency and its servant-led culture, while being able to take advantage of the buying power and strong industry relationships that Do it Best has developed.
What can True Value retailers expect when they attend their first Spring Market later this year?
True Value retailers attending their first Spring Market in Orlando can expect an expansive and collaborative experience. They’ll be welcomed as part of the larger Do it Best family and have access to best-in-class education, exclusive deals, and opportunities to engage directly with leadership. The event will feature a special kickoff tailored for True Value retailers, highlighting the benefits of their new partnership and the resources available.
Specifically for Â鶹´«Ã½ dealers, we’ll provide an industry update, more information on our Â鶹´«Ã½ programs and services to make our customers more profitable, and hold planning and strategic meetings with our team.
What new resources will True Value retailers gain from working with Do it Best, and conversely how will Do it Best benefit?
True Value retailers will gain access to Do it Best’s expertise in operational efficiencies, industry leading rebate, and innovative tools like our ecommerce platform and enhanced data-driven strategies for purchasing and pricing. They’ll also benefit from improved supply chain capabilities and access to a deeper offering of products like Â鶹´«Ã½.
Conversely, Do it Best benefits by doubling our member count which will enhance our buying power, and secures a competitive edge in the market. The integration also offers learning opportunities, fostering stronger solutions for all members through collaboration and combined resources.
What are some of the long-term goals or hopes for the future following the deal?
The True Value acquisition represents an exciting opportunity to accelerate long-term growth for our members, strengthen the independent channel, and solidify Do it Best as a leader in the hardware, lumber, and building materials industry. By combining the strengths of both organizations, we aim to provide even greater value through enhanced purchasing power, improved supply chain efficiencies, and an expanded network of member-owned locations.
Looking ahead, we’re committed to leveraging this acquisition to elevate the independent retailer experience. Programs like replenishment buying, lumber futures, and reload centers, combined with our advancements in ecommerce, and education courses enable members to stay competitive and maximize profitability.
Our long-term goals include further expanding our footprint, fostering innovation in operational support and technology, and continuing to enhance the programs that empower members to thrive in a dynamic market. This acquisition isn’t just about growth—it’s about strengthening the partnership with our members to ensure their sustained success for years to come.
