Do it Best Wins ACG 2024 Deal of the Year Award (Large Cap) for Indiana

Do it Best is proud to announce that it was named the recipient of the Association for Corporate Growth (ACG) 2024 Deal of the Year Award (Large Cap) for the state of Indiana. The prestigious award recognizes the successful acquisition of True Value Company, marking a significant achievement in the home improvement industry. The award was presented at the ACG Annual Awards event, which was held on Thursday, April 17, 2025, at the Ritz Charles Garden Pavilion in Carmel, Indiana.

The acquisition, which closed on November 22, 2024, involved the purchase of substantially all of the assets and operations of True Value, a globally recognized retail hardware brand. The deal was executed under Section 363 of the Bankruptcy Code and was hailed as a model of corporate resilience and strategic foresight. It preserved nearly 2,000 jobs, maintained the brand identity of over 4,500 True Value retail stores worldwide, and allowed these independent retailers to continue sourcing products from their trusted supplier.

The acquisition not only represented one of the most significant corporate deals in the state of Indiana but also nearly doubled Do it Best’s employee base and retailer network overnight. As Indiana’s largest privately held company by gross revenue in 2024, Do it Best solidified its position as a leader in the independent hardware, lumber, and building materials sectors.

“This recognition by ACG was a testament to the dedication and hard work of our entire team, along with our strategic partners, who navigated a complex and challenging acquisition process,” said Dan Starr, the company’s CEO. “This deal was a win for the Do it Best and True Value teams, and for the thousands of independent retailers who rely on our products and services.”

The acquisition was the result of challenging negotiations with True Value’s secured lenders, who initially sought a liquidation of the True Value enterprise. Thanks to the efforts of both companies’ legal and financial advisors, the transaction not only saved the business but delivered more net proceeds to the secured lenders than they had originally demanded.

The legal and financial teams behind the deal, including Do it Best’s advisors from Taft Stettinius & Hollister LLP and Stout Capital, and True Value’s advisors from Skadden, Arps, Slate, Meagher & Flom LLP and Houlihan Lokey, played an instrumental role in the successful closure of this acquisition.

The Deal of the Year Award recognized the most impactful and well-executed transactions in the state, and this acquisition exemplified the strength, resilience, and forward-thinking leadership of Do it Best in today’s competitive market.

About the Do it Best Group

Headquartered in Fort Wayne, IN, the Do it Best Group is the world’s largest hardware, lumber, and building materials buying cooperative in the home improvement industry. With nearly $6 billion in annual sales, we support thousands of independently owned locations across the United States and in more than 60 countries worldwide. Partners in the company have the flexibility to operate under the Do it Best, True Value, or their own local store identities, offering a diverse range of branding options to best serve their communities. For more information, visit doitbestonline.com and follow us on Facebook, Instagram, and LinkedIn.

For more information:

Taylor Feighner, Ferguson Advertising
260.428.1174
taylor@fai2.com