Formerly known as Crown Bolt, HD Supply Hardware Solutions is a distributor of fasteners and builders hardware to retailers throughout the U.S. The transaction is expected to close by the end of fiscal year 2014 subject to obtaining customary regulatory approvals.
“After a detailed evaluation, we determined that selling our Hardware Solutions business is in the best interests of our associates and HD Supply shareholders,” Joe DeAngelo, CEO of HD Supply, said in a release. “HD Supply Hardware Solutions and The Home Depot have a long-standing and natural partnership. The Home Depot is Hardware Solutions’ largest customer and accounts for approximately 98 percent of its annual sales.”