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CNRG buys Marvin's Home Centres

Marvins Building Materials

In a move that will increase its retail store count by more than 30 percent, Central Network Retail Group, LLC (CNRG) has acquired Marvin’s, an Alabama-based home center chain.

Marvin’s operates 28 home center locations throughout Alabama, Mississippi, Georgia, and Tennessee with one additional unit currently under construction and scheduled to open in October.

Founded in 1945, Marvin’s stores sell a full assortment of lumber, hardware, plumbing, electrical, tools, paint, and lawn and garden supplies serving both DIY and professional customers.

“We couldn’t be more excited about the addition of Marvin’s to our portfolio of stores and brands,” says Jimmy R. Smith, chairman of CNRG. “Marvin’s fits perfectly in our geography of stores, giving us a stronger position in the southeast.”

Boyden Moore, president of CNRG, adds, “Marvin’s is a very special brand and team of associates to me. I am especially proud to have the opportunity to add to the great history and growth of the company as a key brand at CNRG.” Prior to founding CNRG in 2011, Moore served as Marvin’s president and CEO for 7 years.

With this addition, CNRG now operates 81 home centers, hardware stores, and lumberyards in ten states under fourteen different brands. CNRG was formed in 2011 with the expressed goal of building a “multi-format, multi-brand operating company through strategic partnerships and acquisitions.”

Source: Hardware Retailing.com

Read more here.

11 August 2015

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