Content about Minneapolis

February 12, 2014

Minneapolis-based global paint company Valspar Corp. reported first-quarter net sales of $956 million, up 9% over the same quarter last year. 

Net income declined to $53.5 million, compared with $55.0 million in the year-ago quarter.

January 21, 2014

Attendees of the United Hardware January Buying Event at the Minneapolis Convention Center saw thousands of products, including an expanded "Gear Up, Get Outdoors." 

The front-and-center sporting goods and outdoors-related area "continues to be popular with United Hardware retailers seeking to carve out their niches in their local markets," according to the company. 

January 9, 2014

Continuing its run of new store openings, Minneapolis-based The Tile Shop opened its first store in Oklahoma City.

The 19,100-sq.-ft. store is the company's second store in the state of Oklahoma, and the 90th store in the country. 

November 12, 2013

The Toro Company's PrecisionSense site assessment system received high marks for innovation at the 2013 Tekne Awards, held by the Minnesota High Tech Association (MHTA) at the Minneapolis Convention Center on Nov. 6.

The company took home the 2013 Tekne Award for Agricultural Technology thanks to its use of mobile soil sensing and data collection technology to measure soil moisture, salinity, compaction, plant performance and more -- all aimed at utilizing water and resources more efficiently.

October 2, 2013

Chris Homeister has been named COO at Minneapolis-based specialty tile retailing company Tile Shop Holdings, Inc., effective immediately. In this newly created role, Homeister will be responsible for supply chain, retail operations and merchandising.

Previously, Homeister was general manager and SVP of Best Buy's Entertainment Business Group, which involved extensive leadership responsibilities.

September 10, 2013

Bart and Diana Tyler, proprieters of Kelloggs & Lawrence in Katonah, N.Y., and DeWayne Tripp, owner of Hinton (Okla.) Hardware joined an elite crowd in 2013: HCN Hardware Store All-Stars. Their stores made the list, along with 48 other worthy retailers, one from each state.

June 4, 2013

Minneapolis-based paint giant Valspar Corp. agreed to acquire Inver Holding (Inver Group), an industrial coatings manufacturer in Europe. 

June 3, 2013

Deere & Company has elected Cargill CEO Gregory R. Page to its board of directors. Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. 

Based in Minneapolis, the privately held company employs about 140,000 people in 65 countries and has annual sales of more than $130 billion.

May 14, 2013

Minneapolis paint giant Valspar reported second quarter net sales of $1.03 billion, essentially flat with the prior-year quarter.

The company, which recently signed a deal to become the key supplier of paint for Ace Hardware, reported net income of $76.9 million, up from $76.5 million in last year's second quarter.

Volume was up 7%, including the Ace deal, up 3% excluding Ace. 

April 5, 2013

The effort brings a line of Valspar Pro and dedicated in-store service to more than 1,700 Lowe’s retail locations, according to the manufacturer's announcement.

March 5, 2013

Minneapolis-based The Valspar Corp. announced Monday that former Best Buy executive James Muehlbauer has been named executive VP, chief financial and administrative officer.

January 2, 2013

Ace Hardware Corp.’s paint program is going through a major makeover with Valspar stepping up as a supplier and taking over the co-op’s paint manufacturing facilities. 

Ace and Valspar announced a long-term deal, under which Valspar will manufacture and supply Ace-branded paint products to Ace dealers. The companies also announced that Valspar has acquired Ace Hardware’s paint manufacturing assets, including two manufacturing facilities located near Chicago.

November 16, 2012

Valspar Corp. is set to become the flagship paint for British retailer B&Q, according to an announcement from the Minneapolis-based manufacturer. Valspar will supply a full selection of its premium paint to all 350 B&Q locations in the United Kingdom and Ireland.

Previously, B&Q's stores offered primarily ready-mix Valspar paints in a smaller assortment of colors and textures. The new retail concept will be rolled out to all locations throughout 2013.

August 15, 2012

Minneapolis-based Valspar Corp., makers of paint, reported third-quarter sales of $1.08 billion, up 1% from the same quarter last year.

“We were pleased with our performance in the quarter,” said Gary Hendrickson, chairman and CEO. “Excluding negative currency impact, our revenue increased 3% and our strong earnings growth is the outcome of excellent execution in a challenging global environment.”

January 13, 2012

Absolute Distribution Inc. (ADI) has announced an agreement with Fairway Building Products to serve as a key distributor of Solutions Aluminum Railing and Balusters.

Solutions serves both residential and commercial markets with a unique sculpted top rail and softened radial corners. The company offers a line of bracketry and hardware to support virtually any installation application. Its baluster offering features both traditional and contemporary railing components. 

December 22, 2011

Allied Building Products Corp., a division of Oldcastle, has completed its acquisition of United Products Corp., a privately held roofing and siding distributor based in Minneapolis. Terms of the purchase were not disclosed.

Founded in 1925, United was purchased in 1975 by Al and Char Hatfield, who grew the business to 15 branches across five states; seven in Minnesota, three each in Wisconsin and North Dakota, and one each in South Dakota and Nebraska.

December 22, 2011

Allied Building Products Corp., a division of Oldcastle, has completed its acquisition of United Products Corp., a privately held roofing and siding distributor based in Minneapolis. Terms of the purchase were not disclosed.

Founded in 1925, United was purchased in 1975 by Al and Char Hatfield, who grew the business to 15 branches across five states; seven in Minnesota, three each in Wisconsin and North Dakota, and one each in South Dakota and Nebraska.

December 21, 2011

Menards is planning to build a 300,000-sq.-ft. project in Richfield, a suburb of Minneapolis, to replace an existing unit, according to an article in the Star-Tribune.

The new two-story building, along with a lumberyard, garden center and warehouse, would require the demolition of the current store, along with a vacant restaurant called Jung Bo.

November 22, 2011

Paint supplier Valspar Corp. reported net sales of $1.05 billion for its fourth fiscal quarter, a 19.4% increase from the fourth quarter of 2010. The Minneapolis-based company posted a net loss of $295.7 million for the quarter, which ended Oct. 28, 2011. This compares to a profit of $51.3 million for the same quarter in 2010.

Fiscal year 2011 sales totaled $3.95 billion, a 22.5% increase from fiscal year 2010. Net loss for fiscal year 2011 was $138.6 million. Net income for 2010 was $222.1 million.

November 18, 2011

Two family-owned hardware stores, an Ace and a Do it Best, are going up against each other on the same block in Minneapolis, according to a news report on KSTP-TV. Although the owners remain friendly, the competition is not.

November 18, 2011

Two family-owned hardware stores, an Ace and a Do it Best, are going up against each other on the same block in Minneapolis, according to a news report on KSTP-TV. Although the owners remain friendly, the competition is not.

November 3, 2011

Lyman Lumber, the Excelsior, Minn.-based pro dealer, has been acquired by BlackEagle Partners, the parent company of US LBM Holdings. Serving the Minneapolis-St. Paul metro area as well as parts of Wisconsin, Lyman Lumber includes lumberyards in Chanhassen, Minn., and Eau Claire, Wis., as well as Carpentry Contractors Corp. and Automated Building Components.

August 24, 2011

Building products giant 3M has agreed to purchase Nida-Core Corp., a Florida manufacturer that makes composite building materials, according to an article in the Minneapolis St. Paul Business Journal. 

August 11, 2011

Lyman Lumber, a nine-unit LBM chain based in Excelsior, Minn., has signed a letter of intent to sell its operations to SP Asset Management, according to an article in the Minneapolis-St. Paul Business Journal.The 114-year-old company also plans to file for Chapter 11 bankruptcy, the article said. 

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