News

Richelieu Buys Penrod Hardware Unit, Adding $70M in Sales

The Canada-based specialty hardware manufacturer and distributor acquired The Penrod Company’s hardware division, expanding Richelieu’s reach in the U.S. door hardware market.

Canada-based Richelieu Hardware Ltd. has acquired the hardware division of The Penrod Company, a U.S. distributor of hardware and related components for residential and commercial doors.

The acquired business adds approximately $70 million (USD) in annual sales and expands Richelieu’s U.S. presence among door manufacturers, architects, residential and commercial contractors and specialty distributors. Financial terms were not disclosed.

Virginia Beach, VA-based Penrod primarily serves manufacturers, specialty distributors and construction industry professionals. Its hardware division has operated in the door hardware and components market for more than 35 years as part of The Penrod Company, whose history dates to 1888. Penrod Hardware offers products including hinges, composite jambs, weather stripping and other door-related components through a nationwide distribution network.

Richelieu President and CEO Richard Lord said Penrod’s supplier relationships and product expertise complement Richelieu’s existing offering while creating opportunities to expand products already sold by the company in Canada into the U.S. market.

The deal continues an active fiscal 2026 expansion cycle for Montreal-based Richelieu. In July, the company disclosed three acquisitions in Canada: Fini U.V. International on May 1, Distributions Air-Cube on June 26 and Winnec on July 8. Those businesses collectively represented approximately $20 million in annual sales.

They followed Richelieu’s December 2025 purchase of three McKillican American distribution centers in Portland, OR; Seattle and Spokane, WA. Before the Penrod transaction, Richelieu said its fiscal 2026 acquisitions represented approximately $33 million in additional annual sales.

The acquisition activity has accompanied steady sales growth. Richelieu posted fiscal second-quarter sales of approximately $388 million for the period ended May 31, up 3.9% year-over-year, including 1.8% organic growth and 2.1% from acquisitions. EBITDA increased 1.7% to approximately $41 million. First-half sales rose 4.4% to approximately $725 million, with acquisitions contributing 2.5% of that growth.

For its fiscal 2025, Richelieu generated approximately $1.4 billion in sales, up 7.2% from 2024, including 3.2% acquisition-driven growth.