Richelieu Hardware

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Richelieu Hardware Limited
TypePublic
TSX: RCH
S&P/TSX Composite Component
IndustryHardware Manufacturing & Distribution
Founded1968
Headquarters
Montreal, Quebec
,
Canada
Key people
Richard Lord (President and Chief executive officer)
Websitehttps://www.richelieu.com

Richelieu Hardware is a Canadian specialty hardware distribution and manufacturing company based in Montreal, Quebec. It has two manufacturing plants and 66 distribution centres in Canada and the United States,[1] and is listed on the Toronto Stock Exchange.

History[]

Richelieu was founded in 1968.[2] Its current CEO, Richard Lord, joined the company in 1988, when it had sales of $30 million.[3] Under Lord's management, the company undertook a significant expansion program, acquiring 50 companies between 1988 and 2014.[4] It listed on the Toronto Stock Exchange in 1993.[2] By 2008, the company had sales of $441 million, after growing sales and earnings every quarter since 1997.[5] Starting in the 2000s, the company focused on acquisitions in the United States.[3] Between 2009 and 2012, half of its acquisitions were in the United States.[6] Starting from 20% of sales in 2007,[3] the United States accounted for 36% of Richelieu's sales in 2017.[7]

Business[]

Richelieu's primary business is the distribution of specialty hardware products. Products distributed by Richelieu include cabinet parts (such as hinges), decorative products (such as doorknobs and mouldings), and kitchen accessories (such as cutlery trays).[2][4] Richelieu's 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, Richelieu has 80,000 customers.[8]

The company has 34 distribution centres in Canada, and 32 in the United States, as well as manufacturing plants in Longueuil and Notre-Dame-des-Pins.[1] It has 2100 employees.[8]

References[]

  1. ^ a b "Richelieu Hardware - Our Network".
  2. ^ a b c "Richelieu Hardware 2017 Annual Information Form" (PDF).
  3. ^ a b c "Richelieu Hardware notches its 45th straight quarterly gain". Montreal Gazette. 2007-03-30.
  4. ^ a b "Dividend, growth, low debt: Small-cap has it all". The Globe and Mail. 2014-05-14. Retrieved 2018-11-20.
  5. ^ "Downtown hits Richelieu". Montreal Gazette. 2009-03-27.
  6. ^ a b c "A 'buy-and-forget-it' stock for conservative investors". The Globe and Mail. 2012-02-22. Retrieved 2018-11-20.
  7. ^ Marowits, Ross (2017-04-06). "Canadian companies expanding U.S. reach to profit from housing recovery". CTVNews. Retrieved 2018-11-20.
  8. ^ a b "Richelieu Hardware - General Overview".
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