Do it Best Makes Bid to Acquire True Value Assets

FORT WAYNE, Ind., Oct. 14, 2024 (GLOBE NEWSWIRE) -- Do it Best, the nation’s largest member-owned co-op for hardware and lumber products, announces its bid to acquire substantially all assets from True Value, a Chicago-based hardlines wholesalers that filed for Chapter 11 bankruptcy under private equity ownership. The proposed acquisition, supported unanimously by the Do it Best Board of Directors, would mark a significant moment in the history of the independent home improvement industry, if consummated, as it would create a worldwide store network exceeding 8,000 locations in the U.S. and more than 50 countries around the world.