Homewerks Worldwide, LLC Acquires Product Lines and Brands from LDR Global Industries, LLC
CHICAGO–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/Homewerks?src=hash” target=”_blank”gt;#Homewerkslt;/agt;–Homewerks Worldwide, LLC (Homewerks), a leading innovator in the
kitchen, bathroom, and plumbing categories, and LDR Global Industries,
LLC (LDR), a long-standing manufacturer and distributor of plumbing
products, together announced that they have entered into a definitive
agreement for Homewerks’ acquisition of LDR’s faucets, showerheads, bath
hardware, valves, and packaged plumbing repair business segments, as
well as brand names including LDR.
Under the terms of the agreement, LDR’s acquired business segments and
brands will be merged into Homewerks’ product portfolio. The transaction
is expected to close within 60 days, by early July 2019.
STZ Industries LLC, the new operating entity for LDR, will continue to
service its customers with rough plumbing product lines it will retain,
including high quality malleable fittings, nipples, and steel pipes.
Homewerks is excited about the opportunity to further enhance its
successful relationships with major home improvement and hardware
retailers by offering more complimentary product lines. The company is
confident in its ability to provide exceptional customer service and to
maintain support of the many items in the Homewerks and LDR product
lines without supply chain disruptions.
Peter Berkman, Chief Executive Officer and founder of Homewerks
Worldwide, LLC commented, “The LDR acquisition represents another
significant step in Homewerks’ expansion strategy. Through our mission
to bring innovation, efficiency and quality to every home through
superior home improvement products, we have developed strong
relationships with our retail partners and manufacturing sources. The
deeper foundation of products and brands created by adding LDR’s
portfolio will enhance our position as a one-stop-shop in the plumbing
and HVAC markets, and will enable Homewerks to better serve and grow
with our important retail partners across multiple product categories.”
Through its tiered brand strategy, which includes its own trademarks, as
well as licensed brands and retail private brands, Homewerks has
established itself as a proven strategic partner for developing,
sourcing, and marketing branded products. The acquisition bolsters the
company’s brand portfolio by adding several important industry names:
LDR®, Exquisite®, and Nature Mist®.
Over time, Homewerks’ has expanded its product assortment, both within
core categories and into adjacent categories. LDR’s robust product
catalog will allow Homewerks to build on the product launch momentum of
recent years and further accelerate growth.
Hillel Tropper, Chief Executive Officer of LDR Global Industries, LLC
added, “Under our new company banner, STZ Industries LLC, we will focus
on the manufacturing of malleable fittings, nipples and pipe with
existing factory sources as well as a new Vietnam facility. Expanding
capacity in these important product lines will further strengthen our
status as a trusted supplier in the retail and wholesale channels.”
Both Chicago-area privately held businesses with deep roots in the
plumbing industry will work closely to deliver a smooth transition for
customers and suppliers. Valued customers of both companies will be
contacted jointly by Homewerks and LDR sales executives, who will lay
out a plan for a seamless transition and to ensure outstanding service
standards are maintained. Michael Malaker, Homewerks’ Director of
Sourcing, and Michelle Libertore, LDR’s Director of Purchasing, will
contact vendors to discuss the transition.
About Homewerks Worldwide, LLC
Homewerks Worldwide, LLC develops, sources, and markets bathroom,
kitchen, and plumbing products for home and commercial use under the
Homewerks
brand names. Since its formation in 2006, Homewerks has shown consistent
sales growth fueled by a proven track record of bringing innovative,
efficient, and high quality product solutions to homes. The Homewerks
Worldwide executive offices are located at 55 Albrecht Drive, Lake
Bluff, IL 60044
About LDR Global Industries, LLC
For more than 80 years, Chicago-based LDR Global Industries, LLC and its
predecessor companies have been leaders in the distribution of plumbing
products to the home improvement industry. LDR prides itself on expert
knowledge of the kitchen, bath and plumbing categories, which allows LDR
to manufacture and distribute thousands of items, offer competitive
pricing, and provide customized product assortments. The company’s
headquarters office is located at 600 N. Kilbourn Avenue, Chicago, IL
60624
Contacts
Deborah Holtkamp
DHoltkamp@HomewerksWW.com