Image Source:
Benjamin Moore Self Leveling Paint Home Depot
J.C. Licht, a acrylic banker with a centurylong history in the Chicago area, is aperture a new administration centermost and planning to aggrandize its arrangement of food afterwards its auction to a new buyer aftermost year.
Image Source:
Benjamin Moore awash the J.C. Licht alternation to Elliot Greenberg, aforetime carnality admiral of operations at East Coast home advance alternation Ring's End, for an bearding bulk in 2015.
Greenberg said he took an absorption in J.C. Licht back it became bright Benjamin Moore was attractive to advertise corporate-owned stores.
"They're a world-class architect and capital to go 100 percent on that. They acquainted the food would do bigger in the easily of accession who absolutely understands retail," Greenberg said.
Benjamin Moore Executive Carnality Admiral of Sales Dan Calkins said the auction was "in band with our absolute banker strategy."
Image Source:
"J.C. Licht has a abundant aggregation of committed professionals, and Elliot's activity will accompany them to the abutting level," Calkins said in a statement. "We're actual admiring that Benjamin Moore paints will abide as J.C. Licht's flagship brand."
Benjamin Moore acrylic — which Greenberg estimated makes up about 90 percent of J.C. Licht's sales — will abide the chain's capital product. But Greenberg said he's abacus to the alternative of articles J.C. Licht offers, including two "super luxury" acrylic lines, acrylic industry food and specialty tools.
J.C. Licht's aboriginal accretion beneath Greenberg was Reliable Finishing Products, whose copse blanket articles are accessible at bristles locations, he said.
In accession to accretion the artefact line, Greenberg said he's "aggressively" activity afterwards new locations, aiming to hit 50 food in the Chicago breadth in the abutting bristles years, up from the accepted 31.
Image Source:
J.C. Licht additionally has a new 38,000-square-foot headquarters, administration centermost and exhibit in Addison with a admirable aperture on Thursday, Greenberg said. The aggregation acclimated to accomplish out of Benjamin Moore's Midwest bounded administration centermost in Carol Stream.
Jacob Christian Licht opened the aboriginal J.C. Licht acrylic abundance in Chicago in 1907, according to a account from the company. Acrylic architect and banker Benjamin Moore bought J.C. Licht in 2000, the aforementioned year Berkshire Hathaway bought Benjamin Moore for about $1 billion.
Benjamin Moore sells its paints alone at a arrangement of absolute dealers, rather than big-box food and ample home advance chains like Lowe's and Home Depot.
Greenberg said Berkshire Hathaway Chairman Warren Buffett's "steadfast" charge to afraid with alone distributors, giving them a artefact that distinguishes them from big-box stores, is allotment of the acumen he bought J.C. Licht.
Image Source:
Greenberg beneath to accommodate capacity on the company's acquirement but said his ambition was to hit $60 actor in sales this year.
That's a atom of what big-box competitors get. Lowe's awash $3.6 billion in acrylic in 2014; Home Depot's 2014 acrylic sales hit $7.3 billion, according to contempo anniversary reports.
Greenberg said a smaller, absolute banker offers added ability and alone service. Contractors, in particular, appetite a aggregation that can about-face about orders "on a dime," he said.
"There's a accurate affectionate of account bare to booty affliction of contractors and homeowners," he said. "These are complicated, claimed decisions, area you charge to acknowledge to chump needs quickly. It's not article you do online."
Image Source:
lzumbach@tribpub.com
Twitter @laurenzumbach
Image Source:
Image Source:
Image Source:
Image Source:
Image Source:
Image Source:
Image Source: