Natchez, Mississippi – Jimmy R. Smith, president of Home Hardware Center, an 18-unit retail hardware chain based here, and Boyden Moore, president of Tyndale Advisors announced the formation of a new company, Central Network Retail Group (CNRG), LLC which will be jointly owned by the two companies. Smith will serve as CNRG’s chairman, and Moore will serve as president.
The new company will initially own and operate the Home Hardware Center chain, which has stores in Mississippi and Louisiana. This new management and operations structure will serve as a platform for retail growth moving forward, according to Smith. “We plan to grow the Home Hardware chain substantially in the near future within the current geographical area,” he said.
Moore added that the new company will not only help with growing the chain it will also help with the long-term transition prospects for other family-held businesses. “We established CNRG to provide an opportunity for an orderly transition of family ownership by independent hardware and home center owners who are currently facing the challenges of succession and generational transfer,” he said.
Both Smith and Moore stated that plans are in place for Home Hardware Centers to expand beyond Mississippi and Louisiana. According to Smith, “We have the financing in place to fund our current growth plans with Home Hardware Center, but we are also looking for opportunities to partner with good operators to grow multiple retail chains and store formats under the right circumstances.” Moore added, “We are working to build an exceptional technical and management infrastructure that we can leverage across our future partners’ businesses as well,” he said. “While CNRG is an acronym for Central Network Retail Group it is also a play on the word “synergy”, which is what we are working to create.”