Central Network Retail Group (CNRG), a seven-month-old business created by the president of Home Hardware and the former chief at the Marvin's store chain, announced it has acquired NFL Building Center in Daphne, Ala., and plans to reopen NFL's now-closed Gulf Shores, Ala., location this spring.
"Will Newberry and his partners at NFL Building Center, Jim Fisher and Joe Lovelady, built a great business on the Gulf Coast. We are proud to have the opportunity to add their stores in Daphne and Gulf Shores to our portfolio," Boyden Moore, president of CNRG, said in a statement issued Dec. 19. The transaction will close on Jan. 1, and CNRG will continue to operate the stores under the NFL Building Center name. Deborah Newberry, NFL's chief financial officer, told ProSales the current company will continue to run its millwork operations, also under the NFL name.
"It's a great opportunity for their organization and our organization to come together," she said.
Doug Gregory, president of Morrison Terrebonne Lumber Center in Houma, La., and his partners will assume operating responsibility of the building material dealerships.
Home Hardware president Jimmy Smith joined on May 1 with Moore, the president of Marvin's from 2003 to 2010, to create CNRG. The Natchez, Miss.-based company currently operates 21 home center and hardware stores in Mississippi, Louisiana, and Tennessee, one of them under the Morrison Terrebone Lumber Center brand and the rest as Home Hardware stores. Since leaving Marvin's, Moore has created a company called Tyndale Advisors.
"We are excited about the growth of our Gulf Coast market," Smith said. "The acquisition of NFL Building Center fits well with our newest partners from Morrison Terrebonne Lumber Center both in terms of geography and store format. We continue to look for opportunities to grow CNRG through strategic partnerships and acquisitions."