Frattallone's, known for its neighborhood Ace Hardware stores throughout the Twin Cities, is no longer Minnesota-owned.
Found Larry Frattallone announced he and his two sons, Tom and Mike, agreed to sell the business and operating assets to Central Network Retail Group.
CNRG, as it is known, is based in Collierville, Tennessee. It operates hardware stores, home centers and lumberyards in 16 states under various different brands. Prior to its purchase of Frattallone's, CNRG's presence in Minnesota was limited to MAC'S hardware stores.
Larry, in an announcement about the sale, called CNRG and Frattellone's "a great fit."
"We both understand the importance of taking care of customers and operating first-rate local hardware stores. Tom, Mike and I have worked hard to build the Frattallone brand in the Minneapolis/St.Paul area and I am very comfortable knowing CNRG will maintain and grow what we have built together," he said.
Frattallone's Home & Gaarden currently has 22 locations throughout the Twin Cities, with CNRG President John Sieggreen calling the brand's reputation "unparalleled."
"There is so much we will be able to learn from them and apply to our other brands throughout the company," he said.
Mike and Tom Frattallone will merge with the CNRG team, taking on "key leadership roles" for the Frattallone's brand the their new owner, the announcement says.