Menards Floor Safe: Menards floor safe
Menards has announced a $25 million buyout of its floor safe business, following a string of failed attempts to get the company to accept a buyout offer.
The $25-million buyout will bring Menards total assets under management to $6.5 billion.
“We will now be able to take a more proactive approach in developing a new floor safe and make it available to our customers,” Menards CEO Michael Coughlan said in a statement.
This will allow us to focus on developing products that our customers want, rather than worrying about new product launches or acquisitions, Coughlin added.
Menards said it plans to continue to provide the safe, with “high quality and affordable product offerings.”
The company has also announced a “sustainable strategy” that will “create new value for our customers” by making the safe a more “premium product.”
“The new product will help the Menards community stay focused on our core values of service and community,” Coughnan added.
Menards will continue to maintain its current floor safe inventory of $1.5 million, Cufflan added.