McCoy’s Building Supply Sells Four Mississippi and Arkansas Stores to Central Network Retail Group

McCoy’s Building Supply announced plans to sell four store locations in Mississippi and Arkansas to Central Network Retail Group (CNRG). The Greenville, Miss.; Vicksburg, Miss.; Laurel, Miss.; and Searcy, Ark.; locations will be operated by CNRG under the Home Hardware Center brand. The sale of the stores is expected to finalize on August 1, 2022.

“We have learned in recent years the importance of managing our own distribution for core products, and we have made big investments in growing our distribution capabilities to serve as many stores as possible,” Meagan McCoy Jones, McCoy’s president and CEO, said in a news release. “These four stores are outside the reach of our distribution network, and as we plan our growth, Mississippi and Arkansas are not in our target geography. The best opportunity for these stores is with an owner who is investing in this geography and in whom we trust to operate and lead well. We have trust and confidence in the CNRG team, and I’m thankful for their work and sensitivity as we’ve planned this transition.”

CNRG president John Sieggreen said the four McCoy’s stores will fit “nicely” into the current Home Hardware Center footprint.

“McCoy’s has a long-standing reputation for quality customer service and solid operating disciplines; we are honored that the McCoy’s team felt that CNRG would be a good fit for these stores,” Seiggreen said.

McCoy’s also announced it will close its Corsicana, Texas, location due to an expansion of a highway project by the Texas Department of Transportation. The dealer said the Corsicana market will continue to be served by surrounding McCoy’s locations and all employees in Corsicana have been offered jobs in other locations.

“McCoy’s has no plans to close or sell any other store or facilities,” McCoy Jones said. “We have absolutely no plans to sell the company. I’m proud of our company, I’m proud of our team, and I will do all I can to help us succeed and serve customers who count on us every day.”

San Marcos, Texas-based McCoy’s Building Supply operates 85 stores, three distribution centers, and two millwork facilities in three states following the sale to CNRG. CNRG, a wholly-owned subsidiary of Orgill, is a multi-format, multi-brand retailer operating 140 hardware stores, home centers, and lumber yards throughout 16 states in the U.S.