Valspar will become the new paint supplier for Ace Hardware, according to Retailing Today sister publication Home Channel News.
Said to be in the final stages of inking the deal, Valspar would replace Ace Hardware’s signature brand Benjamin Moore.
“We can confirm that we signed an agreement with Ace, [and] we expect the transaction to close by the end of the calendar year,” said Mark Goldman, VP corporate communications for Valspar. Because the deal is not final, Goldman said he could not comment on the details of the program, including whether Ace’s two paint manufacturing plants are part of the negotiations.
“We cannot disclose any information since we have not closed on the agreement yet,” said Kate Kirkpatrick, a spokeswoman for Ace, when contacted by HCN.
One person was free to talk about proposed change, however. Edward Klein, senior VP strategy and retailing for Benjamin Moore, told HCN that his company wanted to stay with its “selective distribution” business model