On June 9, 2020, CHHMA members had an opportunity to hear from Doug Anderson, President & CEO of Peavey Industries LP as he gave an update on the company’s recent  acquisitions and plans for the future. Mr. Anderson spoke to a sold-out audience of over 100 registrants from his office in Red Deer, Alberta. 

Mr. Anderson provided a recap of the company’s history from its foundation in 1967 to its recent acquisition of the Ace Canada banner from Lowe’s Canada earlier this year.  He reviewed their network of 239 corporate and dealer stores that operate across the country under their 4 banners – Peavey Mart, TSC Stores, Main Street Hardware and now ACE as well as their buying group affiliations with MID-STATES and the Octo Group.      

Mr. Anderson spoke about the new broad-based ownership structure that was introduced in 2016 that allowed employees to buy into ownership as well as the core values “fabric” that the organization operates under. He also provided a recap of the TSC Stores acquisition-merger and the national pricing/product/merchandising/promotional/e-commerce plans moving forward. Mr. Anderson next described how the Ace Canada acquisition came about and how it is a good fit for their organization and the value proposition they can offer dealers.   

Finally, Mr. Anderson’s presentation touched upon opportunities for suppliers in doing business with Peavey and revealed some interesting insights from operating during COVID-19.  He then answered a few questions from the audience.  

We would like to thank Mr. Anderson for his excellent presentation and for taking the time to talk to our members and the vendor community and for providing some valuable insight into their plans for the near future and how the Ace Canada business will fit in.