True Value builds in Puerto Rico

Chicago-based True Value Company today announced Hardware Group as its newest member. With more than 23 stores in Puerto Rico and growing, the partnership will expand True Value’s presence and capabilities in the Americas.

Founded in 2011, Hardware Group is an association of 15 member-owners with stores throughout Puerto Rico. Retail locations vary in size from convenience formats to a larger “mega” layout, with many Hardware Group stores serving the convenience hardware customer and DIYer.

“We are thrilled to become part of the True Value family as we focus on modernizing our stores and enhancing specific lines to further make Hardware Group’s product assortment more competitive,” said Laura Ortega, president of Hardware Group.

Hardware Group will open a combination of True Value-branded stores and remodels throughout 2017. The group plans to participate in True Value marketing and loyalty programs, as well offering gift cards and co-branded credit cards. In addition, True Value has developed advertising circulars solely for the Puerto Rican market.

The first store under the Hardware Group partnership is Soli Home Center True Value, opened Nov. 11 in Fajardo. A grand opening celebration is slated for December.

“Our new relationship with Hardware Group marks an important step in strengthening True Value’s strategic position in Latin America and the Caribbean,” said Gabriel Fuentes Perez, senior director of International, True Value Company. “The growth of our international business is a key initiative as we focus on executing our long-term strategic plan.”