Richelieu Hardware Ltd. has acquired the hardware division of The Penrod Company, a U.S. distributor specializing in commercial and residential doors hardware and related components. Penrod primarily serves manufacturers, specialty distributors and construction industry professionals.
This strategic acquisition strengthens Richelieu’s presence in the United States and is adding an additional US $70 million to its annual sales.
“Penrod represents an excellent strategic fit for Richelieu. Its long-standing relationships with suppliers, recognized product expertise, and service-oriented culture are a perfect complement to our offering, while creating synergies for products we already offer in Canada,” said Richard Lord, Richelieu’s president and chief executive officer.
“This acquisition also strengthens our ability to serve our customers in their construction and renovation projects across North America. We are pleased to welcome the Penrod team to Richelieu and to continue developing the business together. This acquisition is fully aligned with our growth strategy and further strengthens our position as a partner of choice for manufacturers and industry professionals.”
As part of The Penrod Company, whose history spans more than a century, Penrod’s Hardware Division has been serving the door hardware and components market for more than 35 years. Penrod’s hardware division is recognized for the quality of its products, customer service, and reliable deliveries, offering a specialized range of door related hardware for door manufacturers, architects, residential and commercial contractors, and specialty distributors.
Richelieu is a leading North American importer, manufacturer and distributor of specialty hardware and complementary products.
