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Nationwide Marketing Group Inks Agreement to Purchase Cantrex

Furniture Industry News Update - Furniture World Magazine
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Article Summary: Nationwide Marketing Group has entered into an agreement to purchase Cantrex, Canada’s premier buying group with over 1200 storefronts producing annual sales approaching $2 billion.


Nationwide Marketing Group announced that it has entered into an agreement to purchase Cantrex, Canada’s premier buying group with over 1200 storefronts producing annual sales approaching $2 billion.

Nationwide has enjoyed a long-standing collaborative relationship with the Cantrex team and view this agreement as an excellent opportunity to further increase the group’s scale, improve efficiencies and enhance member services.

“Adding billions of dollars to our buying power with the stroke of a pen is a good thing for our members and another exciting step in Nationwide’s continued growth,” said President of Nationwide, Robert Weisner. “We look forward to finalizing the transaction by month's end and additional details will be provided as they become available.”

Les Kirk, Chief Operating Officer of Nationwide, added, “Both Nationwide and Cantrex bring assets to the relationship that will be leveraged to benefit the members of both groups. The synergy between these two companies is incredible and we were immediately impressed with their leadership team. We expect a fairly seamless transition and look forward to continued growth for our members, vendor partners and our organization.”

Nationwide Marketing Group is the United State’s largest buying and marketing group for appliance, furniture, electronics and rent to own with some 3000 independent dealer members and $12 billion dollars in combined sales.

Additional information -
http://www.reuters.com/article/2012/04/24/searscanada-idUSL3E8FOA6M20120424


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