St. Jacobs, ON, June 16, 2008 - In June 1938, Walter Hachborn took a job as a stock-boy at a local hardware store and launched what would become a remarkable seventy-year career. Over the past seven decades the President and Co-Founder of Home Hardware Stores Limited turned an $8.00 a week job into the nation's largest network of independent hardware Dealers and a $4.8 billion Canadian icon.
"The vision of individual Canadians growing profitable, sustainable and long-term businesses was the foundation on which Home Hardware was founded more than 40 years ago," said Walter Hachborn, President and Founder Home Hardware Stores Limited. "A lot has changed since 1938, but with independents still controlling about seventy percent of the Canadian home improvement market, Home Hardware is as committed as ever to helping entrepreneurial Canadians thrive in this industry."
Walter Hachborn was born in Conestogo, Ontario in July 1921 and was married in 1947 to Jean Brown. After service in the Canadian Army during the Second World War he returned to his previous job at Hollinger Hardware. In 1950 he purchased the business and embarked on his journey to ensure the survival of independent retail hardware and building material dealers in Canada. After careful and extensive industry research, Hachborn committed himself to what he saw as the most effective method to accomplish his vision - a network of Dealer-owned companies with centralized distribution that could command large buying power. Home Hardware Stores Limited was founded on January 1, 1964 and grew from first year sales of $4,103,140, to a network of more than 1,000 stores and annual retail sales of $4.8 billion in 2007.
"On behalf of the more than 1,000 Home Hardware Dealer-Owners across Canada who profitably run and operate their own businesses every day, I want to thank Walter for his role in the success of Home Hardware Stores Limited, his commitment to the independent retailer and his dedicated service to the hardware industry," said Paul Straus, Vice-President and CEO of Home Hardware Stores Limited. "This platinum anniversary is a testament to the strength and endurance of Walter's original vision and business model. Walter's career serves as evidence of the limitless opportunities that independent retailing provides innovative and entrepreneurial spirited Canadians."
Throughout his seventy-year career, Hachborn's commitment to both industry and community have seen him bestowed with several honours, including: named Citizen of the Year, Woolwich Township (1976); received an Honorary Degree of Doctor of Laws from Wilfrid Laurier University (1985); named Distinguished Retailer of the Year by the Retail Council of Canada (1988); inducted into the Canadian Hardware/Housewares Hall of Fame (1989); named Master Entrepreneur of the Year by Ernst & Young (1996); appointed a Member of the Order of Canada by Adrienne Clarkson, Governor General (1999); named Retailer of the Century by Hardware Merchandising (1999); awarded the Queen's Golden Jubilee Medal (2003); and, awarded the Retail Council of Canada's Lifetime Achievement Award (2007).
"Walter Hachborn is a true Canadian business icon," said Diane J. Brisebois, President and CEO, Retail Council of Canada. "He has instilled a spirit of humanity and charity in the Home Hardware culture that can be felt in cities and towns all across this country."
Celebrations for Hachborn's milestone will take place across the country with staff barbeques at each of Home Hardware's Distribution Centres and will continue at the 2008 Fall Market where the more than 10,000 Home Hardware Dealers and Vendors who visit the market will have a chance to join in the celebration.
About Home Hardware Stores Limited
Home Hardware Stores Limited is Canada's largest independent hardware, lumber and building materials and furniture retailer with more than 1,000 stores across Canada, under the Home Hardware, Home Building Centre, Home Hardware Building Centre and Home Furniture banners. Dealers have access to 100,000 quality brand name and private label products and the company has annual retail sales of $4.8 billion. The cooperative was founded on January 1, 1964 by 128 independent hardware Dealers.
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For further information, please contact:Rob Wallace
Home Hardware Stores Limited
(519) 664-4710
rob.wallace@homehardware.ca
