Richelieu Hardware is a Canadian specialty hardware distribution and manufacturing company based in Montreal, Quebec. It has two manufacturing plants and 104 distribution centres in Canada and the United States,[1] and is listed on the Toronto Stock Exchange.
 | |
| Company type | Public |
|---|---|
| Industry | Hardware Manufacturing & Distribution |
| Founded | 1968 |
| Headquarters | Montreal, Quebec , Canada |
Key people | Richard Lord (President and CEO) |
| Website | www |
History
editRichelieu was founded in 1968.[2] Its current CEO, Richard Lord, joined it in 1988, when it had annual sales of $30 million.[3] The company subsequently undertook a significant expansion program, acquiring 50 companies between 1988 and 2014,[4] and was listed on the Toronto Stock Exchange in 1993.[2] By 2008 it had sales of $441 million.[5] In the 2000s, it began focusing on acquisitions in the United States;[3] between 2009 and 2012, half of its acquisitions were there.[6] Between 2007 and 2017,[3] U.S. sales grew from 20% to 36% of its business.[7]
Business
editRichelieu's primary business is the distribution of specialty hardware products. Products distributed by Richelieu include cabinet parts (such as hinges),[8] decorative products (such as doorknobs and mouldings), and kitchen accessories (such as cutlery trays).[2][4] Its primary customers are cabinet, furniture, door, and window manufacturers.[6] It also sells to retail home-improvement centres, such as Rona.[6] As of 2018, it has 80,000 customers.[9]
The company has 47 distribution centres in Canada and 57 in the United States, as well as manufacturing plants in Longueuil and Notre-Dame-des-Pins.[1] It has 2700 employees.[9]
References
edit- ^ a b "Richelieu Hardware - Our Network".
- ^ a b c "Richelieu Hardware 2017 Annual Information Form" (PDF).
- ^ a b c "Richelieu Hardware notches its 45th straight quarterly gain". Montreal Gazette. 2007-03-30.
- ^ a b "Dividend, growth, low debt: Small-cap has it all". The Globe and Mail. 2014-05-14. Retrieved 2018-11-20.
- ^ "Downtown hits Richelieu". Montreal Gazette. 2009-03-27.
- ^ a b c "A 'buy-and-forget-it' stock for conservative investors". The Globe and Mail. 2012-02-22. Retrieved 2018-11-20.
- ^ Marowits, Ross (2017-04-06). "Canadian companies expanding U.S. reach to profit from housing recovery". CTVNews. Retrieved 2018-11-20.
- ^ "Cabinet hinge types". Types of Cabinet Hinges. Retrieved 2024-05-11.
- ^ a b "Richelieu Hardware - General Overview".