Gasser True Value Hardware & Farm Supply has been part of the True Value family since 1971. They’ve partnered with the company to help grow their business to a six-store chain with aspirations of at least 10 stores in the near future. Needless to say, the sale of the Co-op to ACON has opened up the doors to accelerated growth.
“We’ve experienced significant growth over the years,” shared Bob Schmidt, CEO of the Gasser’s chain. Late in 2017, the family decided that perhaps their stores would be better suited with another supplier and began the process of converting their business. “We felt compelled to look at all of our options to ensure the long-term growth and viability of our business was not in jeopardy.”
On March 15, the Schmidt family decided they needed to reassess their decision to switch. “Needless to say, the news of a potential sale was a game changer for us. We immediately saw the value for both our company and True Value as a whole. Couple that with the ‘underneath the covers’ look at ‘the other guy’ and we knew our future as an Independent Dealer was best served with a True Value partnership.”
The Schmidts have decided to stay with True Value. They have cancelled their agreement with the other supplier and already decided how to deploy the equity being returned to the family. “We have had great success with the DTV format,” said both Dan and Rob Schmidt, partners in the Gasser’s chain. “We are going to reinvest our equity into remodeling our remaining three stores and utilize the increased cash flow to close on store number seven.”
True Value is extremely pleased to continue to serve Gasser’s and all independent retailers. We are honored to have earned their trust and agree with the Schmidts that they are right where they belong.