A strategic acquisition strengthening Richelieu's presence in the United States 

TRANSACTION HIGHLIGHTS 

• Acquisition of a national U.S. distributor specializing in hardware and components for residential and commercial doors.
• Addition of approximately US$70 million in annual sales.
• Strengthens Richelieu's presence in the United States and among door manufacturers, architects, residential and commercial contractors, and specialty distributors.

MONTREAL, Sept. 2, 2026 /CNW/ -- (TSX: RCH) Richelieu Hardware Ltd. ("Richelieu" or the "Corporation") announced today that it has acquired the hardware division of The Penrod Company ("Penrod"), a U.S. distributor specializing in commercial and residential doors hardware and related components. Penrod primarily serves manufacturers, specialty distributors, and construction industry professionals.

"Penrod represents an excellent strategic fit for Richelieu. Its long-standing relationships with suppliers, recognized product expertise, and service-oriented culture are a perfect complement to our offering, while creating synergies for products we already offer in Canada. This acquisition also strengthens our ability to serve our customers in their construction and renovation projects across North America. We are pleased to welcome the Penrod team to Richelieu and to continue developing the business together. This acquisition is fully aligned with our growth strategy and further strengthens our position as a partner of choice for manufacturers and industry professionals," said Richard Lord, President and Chief Executive Officer.

ABOUT THE PENROD COMPANY

As part of The Penrod Company, whose history spans more than a century, Penrod's Hardware Division has been serving the door hardware and components market for more than 35 years. Penrod hardware division is recognized for the quality of its products, customer service, and reliable deliveries, offering a specialized range of door related hardware for door manufacturers, architects, residential and commercial contractors, and specialty distributors.

For more information, visit thepenrodcompany.com

ABOUT RICHELIEU

Richelieu is a leading North American importer, manufacturer and distributor of specialty hardware and complementary products. Its products serve an extensive customer base of kitchen and bathroom cabinet, storage and closets, home furnishing and office furniture manufacturers, residential and commercial woodworkers, door and window, and hardware retailers including renovation superstores. Richelieu offers customers a broad mix of products sourced from manufacturers worldwide. Its product selection consists of over 145,000 different items targeted to a base of more than 120,000 active customers who are served by 124 centres in North America – 54 distribution centres in Canada, 66 in the United States and 4 manufacturing plants in Canada, specifically, Les Industries Cedan Inc., Menuiserie des Pins Ltée, USIMM UNIGRAV Inc. and Fini U.V. International Inc., which complement the Corporation's offering through the manufacture a variety of veneer sheets and edge-banding products, a broad selection of decorative mouldings and components for the door and window and door industry, as well as 3D scanning services and custom products, including high-end wall panels designed to provide exceptional decorative and acoustic performance.

FORWARD LOOKING INFORMATION

This press release contains forward-looking statements and information within the meaning of applicable securities laws (collectively, "forward-looking information") relating to anticipated strategic, operational, and financial benefits; future growth opportunities; the impact of the transaction on Richelieu's financial performance; and Richelieu's plans and expectations following closing. Forward-looking information is based on Richelieu's current estimates, assumptions, and projections, which remain subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on forward-looking information. Except as required by applicable law, Richelieu undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

SOURCE Richelieu Hardware Ltd.