CNRG Acquires Taylor-Foster Hardware
October 31st, 2014
Natchez, MS – Central Network Retail Group, LLC (“CNRG”) is proud to announce the addition of Taylor-Foster Hardware of Manchester, Georgia to its portfolio of stores. The transaction was completed today. Taylor-Foster Hardware was founded in 1974 by Lee Taylor, Jim Taylor, Darien Foster, and Mrs. Judy Taylor Foster when they purchased McDonell’s Hardware Company and Gift Shop. Taylor-Foster has served the community’s hardware and lumber needs for the past 41 years. The store sells a full assortment of lumber, hardware, plumbing, electrical, tools, paint, lawn and garden supplies and outdoor power equipment serving both DIY and Pro customers. CNRG is converting the store from True Value to Orgill.
“We are excited about the addition of Taylor-Foster Hardware to our team in Georgia,” said Jimmy R. Smith, chairman of CNRG. “With this acquisition we now operate six stores in Georgia.” Boyden Moore, president of CNRG, added, “Taylor-Foster Hardware is a great fit with CNRG. Lee and his family have built a great business. We are excited to invest in this opportunity and look forward to serving the Tri-County area with the same great service they already know and expect. This is a great example of the synergy that CNRG was designed to create.”
Taylor commented, “Praise the Lord! I could not be more pleased with our new association with CNRG. I believe this transaction is a win-win for all parties. I can now fund my personal retirement and know that my employees now have access to affordable health care and an opportunity to fund their retirement. The CNRG team has been courteous and professional throughout the whole process. It is very comforting for me to know that I can walk away from the business and know that the community that has provided me with a very good living for the past 40+ years will continue to be served by a hardware store that puts customer service as top priority.”
About Central Network Retail Group, LLC
CNRG currently operates 48 home centers, hardware stores, and lumberyards in nine states under twelve different brands. CNRG was formed in 2011, by Jimmy R. Smith, president of Home Hardware and Boyden Moore, president of Tyndale Advisors. The company is building a multi-format, multi-brand operating company through strategic partnerships and acquisitions.
Contact: Boyden Moore, (901) 205-9075, firstname.lastname@example.org