Hechinger Co. is purchased, merged with Builders Square
Article Abstract:
Leonard Green & Partners has agreed to purchase Hechinger Co and Builders Square home center store chains in a $136.6 million deal and form a stronger competitor in the home improvement market. The investment group plans to create the third-largest home improvement retailer with 279 stores and $4.5 billion in revenues annually. Leonard Green also plans to divest the newly formed chain's unprofitable stores and fund its remodeling projects. The merged firm will continue to operate under two names due to regionality.
Publication Name: Home Improvement Market
Subject: Home and garden
ISSN: 0162-5896
Year: 1997
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Hechinger Co. pleased with Feb. same-store sales
Article Abstract:
Hechinger Co. reports that flat same-store sales for Feb 1996 broke a 10-month negative streak, and company officials are pleased. Although analysts are reluctant to call this a rebound, the higher sales have given officials hope that sales will continue to improve. Hechinger has struggled with such situations as merger charges, downgraded credit ratings, low stock prices and difficult winter weather, resulting in a loss of $77.6 million in 1995.
Publication Name: Home Improvement Market
Subject: Home and garden
ISSN: 0162-5896
Year: 1996
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Hechinger stocks rise on renewed buyout rumors
Article Abstract:
Rumors of Sears, Roebuck & Co's proposed acquisition of Hechinger Co generated heavy trading of Hechinger Class A and B stocks. The home center chain denied any acquisition negotiations with Sears. The acquisition would add 118 Hechinger stores to 108 Sears Hardware nationwide stores, and help it enter the Northeastern market. Sears plans to operate 500 Sears Hardware stores by 2000.
Publication Name: Home Improvement Market
Subject: Home and garden
ISSN: 0162-5896
Year: 1996
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