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Richelieu Hardware Ltd. has acquired the hardware division of The Penrod Company, expanding the specialty hardware supplier’s U.S. distribution business and adding approximately $70 million in annual sales.
Announced Sept. 2, the acquisition strengthens Richelieu’s position in the residential and commercial door hardware market and broadens its reach among manufacturers, architects, contractors and specialty distributors across the United States.
Penrod’s hardware division specializes in hardware and related components for residential and commercial doors. The business has served the market for more than 35 years as part of The Penrod Company, whose history spans more than a century.
“Penrod represents an excellent strategic fit for Richelieu,” said Richard Lord, president and CEO of Richelieu Hardware. “Its long-standing relationships with suppliers, recognized product expertise, and service-oriented culture are a perfect complement to our offering, while creating synergies for products we already offer in Canada.”
Lord said the acquisition also expands Richelieu’s ability to serve customers involved in construction and renovation projects throughout North America.
For the surface and panel industry, the transaction expands a major supplier whose product portfolio reaches many of the same manufacturing markets served by decorative panels and surfaces, including kitchen and bath cabinetry, closets and storage, residential and office furniture, architectural woodwork, and door and window manufacturing.
The acquisition also continues Richelieu’s broader expansion in the North American market. The Montreal-based company now serves more than 120,000 active customers and offers more than 145,000 products encompassing specialty hardware and complementary products for manufacturers, woodworkers and retailers.
Richelieu operates 124 centers across North America, including 54 distribution centers in Canada and 66 in the United States, along with four Canadian manufacturing facilities.
Its manufacturing operations also extend beyond hardware into products directly related to the surface and panel sector, including veneer sheets, edgebanding, decorative moldings and components, as well as decorative and acoustic wall panels.
Richelieu said Penrod’s supplier relationships, product expertise and established customer base are expected to complement its existing North American operations as the company continues its growth strategy.
