SUMMERSIDE, P.E.I. — Callbecks Ltd. is growing again.
The Summerside-based company has announced its purchase of Charlottetown Home Hardware.
The acquisition is a partnership between Callbecks, which is owned by the MacDonald family, and Charlottetown-based Metro Home Building Centre, which is owned by the Smith family.
The purchase is a 50/50 split between the two companies but Callbecks will act as the operational day-to-day managers.
“We’re very excited about it,” said Duane MacDonald, Callbecks general manager.
“It’s a very well-run store, it’s got a very good reputation. It’s a family business, similar to ours, so it’s nice to be able to keep it family-owned and operated on P.E.I.,” he said.
“There’s an economy of scales to it too, it helps us out with our purchasing so we can pass on savings to our customers with our better buying power.
Charlottetown Home Hardware had previously been owned, since it was founded almost 50 years ago, by the Johnson and Wong families.
Tara Maddix, executive director of the Greater Summerside Chamber of Commerce, congratulated the local company on its expansion.
“I am delighted that Callbecks Home Hardware is continuing to grow again; its decision to expand is great news for the local region," said Maddix.
"The chamber appreciates Callbecks' support as a long time Chamber member and their ongoing involvement with community initiatives. I wish them all the best and look forward to continuing to work with them on their future endeavours."
The purchase brings Callbecks’ store count up to four. The company has two stores in Summerside, Callbecks Home Furniture and Callbecks Home Hardware, and it purchased the Salisbury, N.B., Home Hardware franchise in 2018.
Metro Home Building Centre currently has two stores in Charlottetown and this acquisition will be its third.
There are about 60 people who work at the Charlottetown Home Hardware and MacDonald said there are no plans to make any staffing changes.
