Taylor's Do it Centers buys Pleasants Hardware
The question of what will happen to Richmond, Virginia, retail icon Pleasants Hardware has been settled emphatically with the announcement of its purchase by Virginia Beach-based Taylor's Do it Centers.
Under the deal, effective Feb. 17, Taylor’s will acquire from The C.F. Sauer Company seven Pleasants Hardware locations in Richmond. All seven stores will continue to carry the Pleasants name.
“We are excited about today’s announcement and keeping Pleasants Hardware local, independent and serving the Richmond area,” said Joe Taylor, president and CEO of Taylor’s Do it Center. “We can’t wait to build on the legacy of outstanding customer service and make the Pleasants experience an even better one for customers and employees.”
The transaction price was not revealed.
An eighth downtown Richmond Pleasants store on Broad Street is expected to close at the end of February, replaced by a Whole Foods. Pleasants Hardware has had a flagship presence on West Broad Street for about 100 years.
Taylor’s Do it Centers is headquartered in Virginia Beach and operates 11 full-service home centers in the Hampton Roads area. The company was founded by a group of local businessmen that included Robert Taylor, Joe Taylor’s grandfather, in 1927. The C.F. Sauer Company purchased Pleasants Hardware in 1989 and has been family-owned or operated since its founding in 1915.
“We honestly could not think of a better partner for this transition than Joe and his team at Taylor’s,” said Conrad Sauer IV, CEO of The C.F. Sauer Company. “The history and success of Taylor’s Do it Centers is incredibly similar to that of Pleasants, and we know we are bringing together two outstanding teams of employees with this agreement.”
The seven Pleasants Hardware locations will join Taylor’s Do it Centers as a member-owner of Do it Best Corp. Previously, Pleasants had been an Ace dealer.
Taylor’s Do it Centers currently has 11 locations and has been in business since 1927. It's also the family business of former Do it Best Corp. CEO Bob Taylor, who retired from that post on Jan. 4.