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Denver, Col.-based PRO Group, a hardware industry merchandising and marketing organization, announced an ownership change that makes president and CEO Steve Synnott the new owner.
Synnott, a 20-year veteran of PRO Group, bought the privately held organization from Gary Cosgrave, the son of the group’s founders, for an undisclosed price.
Paul and Hazel Cosgrave founded PRO Group in 1953.
Gary Cosgrave, the company's chairman of the board, will remain involved in PRO Group’s strategic planning and said nothing will change in the company's operations or staff, according to a release announcing the change.
“Steve Synnott has demonstrated his leadership capabilities and integrity," Cosgrave said. "I have confidence in Steve's commitment to leverage the group's marketing strength. The sale ensures perpetuation of the company my family started. I look forward to continuing my responsibility to support the success of independent retailers in today's competitive market. We have an outstanding team in place to do that.”
PRO Group remains dedicated to the success of independent retailers. Marketing, advertising and buying advantages will remain cornerstones of the company’s value to retail, wholesale and manufacturing channel partners. PRO Group’s members include 26 distributors.