CNRG acquires Central True Value

Central Network Retail Group has acquired Central True Value in Moncks Corner, South Carolina.

"We are excited to announce the acquisition of Central True Value along with recent new stores for Home Hardware and Elliott's, and a planned new store for Parkrose Hardware," said chairman Jimmy Smith.

Central True Value is located just north of Charleston and is currently in the process of a rebranding, after which it will operate as a Marvin's home center.

"Central True Value is a great store that represents a new area of growth for us," said Smith. "We are excited about future growth in South Carolina. The Housand family have built and operate a great business and we are excited about the opportunity to continue providing a great store for the Moncks Corner community."

"The store looks and feels so similar to our Marvin's stores that we decided to rebrand it and take advantage of some marketing efficiencies," said CNRG president Boyden Moore.

"We are also excited about the acquisition of Central by CNRG," said Central True Value president Kevin Housand. "We could not have hoped for more closely matched retail formats than Central's and Marvin's. It's great to know that our community will continue to be served by a full-line hardware and building supply retailer. We see this as a win for our customers, our staff members, Marvin's and our family."

CNRG is also planning a new Parkrose Hardware store, which is under construction in the Hazel Dell Marketplace in Vancouver. It is expected to open in the first quarter of 2017.

Additionally, CNRG has opened a new Home Hardware Center in Monroe, Louisiana, as well as relocated two stores to better locations in Texas and North Carolina: Elliott's moved its Dallas location to a new location on Inwood Road, and Town & Country Hardware moved its Chapel Hill store to North Chatham Village.