Forest Park-based hardware titan Hillman Group is growing with its latest $315 million purchase, the company announced late Monday.
Known for brands such as Minute Key and Gorilla Grip, the hardware distributor has agreed to buy Kanebridge, a New Jersey distributor of industrial fasteners, according to an Aug. 3 news release.
Kanebridge supplies more than 44,000 commercial and military-grade fasteners to distributors across the United States and Canada from warehouses in Illinois and California, selling exclusively to commercial and industrial distributors, the release says.
Hillman expects the acquisition will bring more sales and reduce distribution expenses, thanks for Kanebridge's existing relationships with distributors.
"Like Hillman, Kanebridge
has decades of expertise taking great care of customers, maintaining strong fill rates, and providing a long tail of specialty fastener[s]," said Chris Martin, Hillman executive vice president. "Kanebridge's focus on the U.S. industrial market complements Hillman's existing industrial presence in Canada, broadening our combined reach across North America."
Founded in 1964 and headquartered across the Cincinnati-area, Hillman is also bringing all of its operations together under one roof at the site of the former Forest Fair Mall in Forest Park.
This article originally appeared on Cincinnati Enquirer: Forest Park-based Hillman Group expands with $315M acquisition
