Hardware Co-Ops Approve Alliance

Independent hardware store operators using the True Value and ServiStar names have given the cooperatives permission to merge into a national powerhouse that executives hope will be able to fend off industry giants.

The new Chicago-based cooperative will do business as TruServ and will have 10,300 independent retailers and initial sales of $4.6 billion a year, the company announced Wednesday.

Cotter & Co., the parent of True Value, and ServiStar Coast to Coast Corp. pursued joint operation in the face of stiff competition from such chains as Home Depot and Sears Hardware that has left many mom-and-pop stores struggling.