Richelieu's 2021 acquisition spree includes fastener and tool companies

Montreal headquartered Richelieu Hardware has kept up the pace of its acquisition programme with multiple purchases in the fastener and tool worlds in 2021.

Task Tools, a distributor of power tool accessories and related product serving the Canada and United States’ markets was acquired in April.

Uscan Industrial Fasteners was snapped up June. Uscan imports and distributes screws, bolts and industrial fasteners. Founded in Montreal in 1970, it serves retailers – largely in Eastern Canada, from its distribution centre.

Together with the 75% share purchase of construction distributor Inter-Co, the trio amount to $73 million additional sales annually.

Mississauga-based screw and fastener distributor Cook Fasteners was also acquired, in Q3. Five acquisitions have been made so far in fiscal 2021, the last being Industrial Plywood of Pennsylvania.

Richelieu has seen solid growth in Q3 2021, with nine month sales at $1.042 billion, up 28.9%. It also opened two distribution centres in the United States in that period.

Richelieu is a leading North American distributor, importer and manufacturer of specialty hardware and complementary products. Its products target an extensive customer base of kitchen and bathroom cabinet, storage, home furnishing and office furniture manufacturers, residential and commercial woodworkers, door and window, and hardware retailers including renovation superstores.

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