Talks put True Value’s worth at $800M

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.