Richelieu acquires CourterCo Inc. (U.S.A.) penetrating the Indiana market, while strengthening its foothold in Kentucky and North Carolina

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[{"type":"text","content":"\n\n\n\n\n\nMONTREAL, May 2, 2012 /CNW Telbec/ - Richelieu Hardware Ltd. (TSX: RCH)\n announces it has closed the acquisition of the net assets of CourterCo\n Inc. (\"CourterCo\"), a distributor of specialty and decorative\n hardware.  From its 3 locations, Indianapolis (Indiana), Louisville\n (Kentucky) and Greensboro (North Carolina), CourterCo serves a base of\n some 6000 residential and commercial woodworking customers and kitchen,\n bathroom cabinet and furniture manufacturers.\n\n\nIn acquiring CourterCo, Richelieu penetrates the Indiana market and\n strengthens its position in Kentucky and North Carolina. The Company\n thereby broadens its American customer base, increases its sales by\n some $13 million on an annualized basis, and expands its U.S. network.\n Fully compatible with Richelieu's activities and consistent with its\n acquisition criteria, CourterCo is a solidly established distributor\n valued by its customers.\n\n\nProfile as at May 2, 2012\n\n\nRichelieu is a leading North American distributor, importer and\n manufacturer of specialty hardware and complementary products. Its\n products are targeted to an extensive customer base of kitchen and\n bathroom cabinet, furniture, and window and door manufacturers plus the\n residential and commercial woodworking industry, as well as a large\n customer base of hardware retailers, including renovation superstores.\n Richelieu offers customers a broad mix of high-end products sourced\n from manufacturers around the world. Its product selection consists of\n more than 90,000 different items targeted to a base of some 70,000\n customers who are served by 63 centres in North America - 34\n distribution centres in Canada, 27 in the United States and two\n manufacturing plants in Canada, specifically Cedan Industries Inc.\n which specializes in the manufacture of a wide variety of veneer sheets\n and edgebanding products and Menuiserie des Pins Ltée which\n manufactures components for the window and door industry and a broad\n selection of decorative mouldings.\n\n\nCertain statements contained in this press release may constitute\n forward-looking statements within the meaning of securities\n legislation. Richelieu's management would like to point out that, by\n their very nature, forward-looking statements involve a number of risks\n and uncertai...

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