True Value Company Market Research Report

Company Overview

• Name: True Value Company

• Mission: No explicit mission statement is provided. However, the company aims to support the success and growth of independent hardware retailers by providing quality products, exceptional service, and expert advice.

• Founded: 1945 by John Cotter under the name Cotter & Company. The True Value trademark was acquired in 1963 after purchasing Hibbard, Spencer, and Bartlett.

• Key People:

• Dan Starr, CEO

• Dent Johnson, President

• Bill Habegger, VP of Information Technology

• Justin Hanford, VP of Merchandising

• Eric Lane, Senior VP of Marketing

• Tim Miller, Senior VP of Logistics and Distribution

• Chris Okapal, VP of Sales and Business Development

• Steve Rose, VP of Distribution

• Matt Saines, VP of Finance

• Rob Schmiedel, VP of Operations and Sales Enablement

• Ken Sorg, VP of Supply Chain

• Celeste Stevens, VP of Human Resources

• John Vanderpool, Senior VP of Manufacturing

• Jenna Grannan, Director of Marketing

• Randy Rusk, Director of Communications

• Headquarters: Chicago, Illinois, USA

• Number of Employees: Approximately 2,500 True Value Associates.

• Revenue: No specific annual revenue figure is provided; however, the company serves over 4,500 stores worldwide with retail sales totaling about $10 billion in their communities.

• Known For: True Value is known for being one of the world’s leading hardlines wholesalers, supporting the growth and profitability of independent hardware retailers with a globally recognized brand and a wide network of stores.

Products

True Value offers a wide range of products primarily targeted at the hardware market. They have both national and private label brands.

• Paints:

• EasyCare Line: Includes interior and exterior paints, aerosol paints, paint applicators, and stains. Known for the EasyCare Ultra Premium and EasyCare 365 lines which offer paint and primer combinations.

• Key Features: Asthma & allergy friendly® certified paint, paint-and-primer-in-one options, and specialized products like EasyCare X-O for rust prevention.

• True Value Private Label Products:

• Green Thumb: Lawn & Garden and Outdoor Tools.

• Master Mechanic: Tools and accessories.

• Master Rancher: Farm & Ranch SKUs.

• Homepointe: Plumbing supplies.

• True Value Paints: Offers multiple levels of paint options, including professional quality and budget-friendly options.

• Other Categories:

• Hand & Power Tools: Brands like DeWalt, Bosch, Makita.

• Outdoor Living: Brands like Toro, Scotts, Weber.

• Plumbing: Brands like Delta, Moen with exclusive Homepointe products.

Recent Developments

• Corporate Developments:

• True Value announced a purchase by Do it Best, making it part of the largest network of independent home improvement stores globally.

• Initiation of Chapter 11 proceedings for a value-maximizing transaction.

• Product and Campaign Developments:

• Launched the "Hardware Hero" campaign to support DIYers and promote local retailers.

• Received the ESG and Community Award for their EasyCare paint line, certified for asthma and allergy friendliness.

• Added 1,000 SKUs with the acquisition of Majic, expanding its paint line offerings.

• Partnerships:

• Strengthened partnership with Habitat for Humanity by making donated products available in select ReStores.

• Events and Networking:

• True Value’s Reunion event combines with Do it Best's Spring Market to create the largest buying event in the independent hardware channel, planned for March 20-23, in Orlando, FL.

• Community Engagement:

• Continued support and donations through True Value Foundation, focusing on youth success and community support via various initiatives and partnerships.

No information is available for the following sections:

• Specific recent product launches, besides general expansion lines.

• Specific new features added to existing products.

• Any specific new partnerships outside of Do it Best and ongoing community and philanthropic partnerships.