Multi-format, multi-brand Central Network Retail Group (CNRG) acquired the assets of Germantown Hardware in Germantown, Tenn. Germantown Hardware will retain its name and operate as CNRG’s 17th brand.
“We have wanted a store in the Memphis area for a long time and Germantown Hardware is the perfect place for CNRG to start,” CNRG president John Sieggreen said in a news release. “The store has a great reputation with local customers, known for providing service with a smile and being a ‘real hardware store’. We are thrilled to have them on our team.”
Germantown Hardware currently offers a full assortment of outdoor power equipment, grills, and other outdoor living products, hardware, plumbing, electrical, and lawn and garden suppliers. The store also features a shop for small engine repair. The family of John, Marcia, and Justin Wagner have owned the store, formerly an Ace Hardware store, since 2000.
“Our family has truly enjoyed the opportunity to serve the Germantown community over the years and we are highly confident in CNRG’s ability to carry on the business going forward,” John Wagner said.
Collierville, Tenn.-based CNRG ranked 52nd on the 2020 ProSales 100 list and operates 110 hardware stores, home centers, and lumberyards across the country in 16 states. The company’s diverse portfolio meant CNRG generated only 30% of its 2019 sales from pros. The purchase of Germantown Hardware is CNRG’s second acquisition in recent weeks, after the company acquired H&M Lumber in Arkansas in May.
