Colony Hardware acquires C.L. Presser Company effective 10/31/2019
COLONY
October 31, 2019 Dear Vendors;
Colony Hardware Corporation is pleased to announce that we have purchased the operating assets of the CL Presser Company in a transaction completed today, October 31, 2019. Colony Hardware is a leading distributor of tools, fasteners, safety products and construction supplies with headquarters in Orange, Connecticut. In addition, we are very proud that the CL Presser employees and management team are joining Colony and we are also very excited about expanding our business in the Pennsylvania market.
The mailing addresses for the business will remain the same. We plan few short-term changes to
the operations and the business will trade as Colony Hardware Corporation, dba CL Presser. In addition, CL Presser will continue to do their own purchasing and Colony is not assuming any open trade accounts payable as part of the transaction. CL Presser will continue to pay the pre-closing accounts payable as they become due. Please continue business as usual with this location. Please also include all purchases from the CL Presser location as of November 1, 2019 in the rebate or incentive calculations of Colony Hardware Corporation. If you currently do not have a rebate and or incentive program with Colony, but maintain such a program with CL Presser then we expect that program to continue. Going forward all payments and or credits relating to a purchase as of November 1, 2019 or later should be made payable to Colony Hardware Corporation. In addition, absent a special program or other arrangement already in place with CL Presser we expect all favorable terms, discounts and pricing extended to any other Colony Hardware location to be effective for this location as of November 1, 2019.
On behalf of CL Presser and Colony Hardware Corporation, thank you very much for your support in the past and the entire combined team is looking forward to earning your continued trust and confidence into the future. If you have any questions or unique circumstances that require additional discussion, please contact Colony's Director of Purchasing, Ralph Del Cervo at 203-466-5252, extension 343.
Sincerely,
Colony Hardware Corporation, 269 S. Lambert Road, Orange, CT. 06477
Download PDF Format: Presser Vendor Letter