Talks put True Value’s worth at $800M

Northwest Arkansas Democrat-Gazette - - BUSINESS & FARM -

CHICAGO — True Value is work­ing with an in­vest­ment bank on strate­gic op­tions in­clud­ing a sale, ac­cord­ing to peo­ple fa­mil­iar with the mat­ter.

A sale could value the home-im­prove­ment store chain at about $800 mil­lion, said the peo­ple, who asked not to be iden­ti­fied be­cause they weren’t au­tho­rized to speak pub­licly.

The process is ex­pected to at­tract pri­vate eq­uity firms, the peo­ple said. No fi­nal de­ci­sion has been made, and the com­pany may elect not to pur­sue a sale.

A rep­re­sen­ta­tive for Chicago-based True Value didn’t re­spond to emails seek­ing com­ment.

The com­pany re­ported rev­enue of $1.51 bil­lion in 2016, up 1.1 per­cent from the pre­vi­ous year, and it’s ex­plor­ing al­ter­na­tives at a time when other re­tail­ers are fil­ing for bank­ruptcy at a record rate.

True Value, led by Chief Ex­ec­u­tive Of­fi­cer John Hart­mann, is a co­op­er­a­tive of more than 4,000 stores across more than 58 coun­tries, ac­cord­ing to its web­site. Mem­bers of the co­op­er­a­tive, which can trace its ori­gins back to 1948, also op­er­ate un­der the names Party Cen­tral, Taylor Ren­tal and Grand Ren­tal Sta­tion.

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