Groupe Turcotte and Home Hardware Stores Limited Announce Acquisition of Quebec based Patrick Morin Inc.

Groupe Turcotte and Home Hardware Stores Limited have announced the acquisition of Quebec-based home improvement retailer Patrick Morin Inc. The deal will see Group Turcotte and Home Hardware Stores Limited purchase 21 stores and one Distribution Centre in the province of Québec, effective today.

Groupe Turcotte is owned by Louis Turcotte, an independent and experienced Home Hardware Dealer-Owner. Turcotte has been in the Quebec home improvement industry for over 30 years.

“We are honoured to have worked with Patrick Morin, a company with a strong reputation and deep roots in communities across Quebec,” said Louis Turcotte, Dealer-Owner, Groupe Turcotte. “As we carry on the legacy of a truly Québécois company, Patrick Morin will continue to operate with a head office in the province and in partnership with Home Hardware, an independently owned and operated Canadian company. It is our priority to provide excellent service and products to the communities in which we are located.”

Founded in 1960, Patrick Morin is recognized as a leader in the construction and renovation industry in Quebec, providing quality products and services to consumers and contractors. The company has 1,700 employees.

“We recognize that Quebec is a unique market and we believe that partnering with such a strong, made-in-Quebec brand will continue to give us a competitive edge as we work with Groupe Turcotte and the Patrick Morin team to strengthen our Merchandise programs,” says Kevin Macnab, President and CEO of Home Hardware Stores Limited. “This Dealer-focused transaction strengthens the program for all Home Dealers and Patrick Morin by leveraging Home’s national scale with Patrick Morin’s position and expertise in Quebec.”

Patrick Morin stores will continue to operate under the existing Patrick Morin banner and branding.

“This partnership demonstrates our commitment to growth in the province of Quebec and the strength of our independent Dealer-owned and operated model,” says Christine Hand, Chairman of the Board, Home Hardware Stores Limited. “We look forward to working with Louis Turcotte, an experienced entrepreneur, Patrick Morin, a well-respected retailer, and our strong base of Quebec Dealer-Owners to support our mutual growth and success.”

From Patrick Morin

For the members of the Morin family, it is an adventure that is coming to an end; an adventure written by three generations. The Morin family would like to thank each and every employee individually for their work, commitment and loyalty throughout the years.

A special thank you to the thousands of clients who have placed their trust in Patrick Morin and who have chosen him over the years.

We would also like to thank all our suppliers and business partners with whom we have built solid relationships over the years.

About Turcotte Group

Groupe Turcotte is led by Dealer-Owner, Louis Turcotte and partners Daniel Gervais and Pierre Beauchamp. It currently employs more than 200 employees and operates Home Hardware retail stores in Marieville, Blainville, Pointe-aux-Trembles, Montreal, Laval, Saint-Lin-Laurentides, QC and Stittsville, ON.

About Home Hardware Stores Limited

Home Hardware Stores Limited is Canada’s largest Dealer-owned hardware, lumber, building materials, and furniture home improvement retailer with more than 1,050 stores under the Home Hardware, Home Building Centre, Home Hardware Building Centre and Home Furniture banners. Founded in 1964 in rural St. Jacobs, Ontario, Home Hardware remains 100% Canadian owned and operated. Through the Home Hardware network, Dealer-Owners have extensive distribution and marketing capabilities as well as access to thousands of quality, brand name and private label products. Home Hardware Stores Limited has received designation as one of Canada’s Best Brands and Best Managed Companies and is committed to helping Canadians with all of their project needs. More information about the company is available at homehardware.ca.

Source: Home Hardware Stores Ltd.