Hadco and ARD Join Forces

Creating, at $1/4 billion in sales, what is likely the largest 2-step distributor in the US?  Yes it's true.  But couldn't they have at least waited until after our July 4th holiday?  Will follow this up with all the interesting but less-than-gory details on Monday.
UPDATE Jul 9:  ARD Distributors Inc. of Florida, after 28 years in the business, and with $100 million in gross sales is selling "selected assets" to Hadco Distribution, a $150 million 2-step distributor based in Atlanta.  The deal is expected to close in early September.

"Selected Assets" includes the assets, inventory, leases etc for:

• ARD's 2-step distribution business
• ARD's Apartment Replacement" business
• ARD's VP Chuck Asarnow who will take the positions of VP of Biz Dvlp AND Director of  Hadco
• Most of ARD's executives.  
  Chuck's partner Brian Mair will take this golden opportunity to retire from the appliance business.

The corporation, "ARD Distributors Inc." will continue on as an independent entity, albeit one of significantly reduced size.  ARD Distributors Inc. will have access to BSH products through the end of the year for the completion of $5 million in booked business in 8 builder projects.

Analysis:  It seems obvious that ARD's decision was driven by the loss of Bosch and Thermador.  It is equally obvious that ARD made clear headed, though difficult decisions based on its new reality; decisions, evidently that Oakton was not able to make in the same circumstances.  
Silver linings?  At least one.  ARD avoids the quagmire of dealing with what we understand to be, 44,000 BSH ovens being recalled nationally. (see June 2007) 
UPDATE Jul 10:  Hadco's Barry Cohen, who left to join BBQ's Galore 92 days ago will return to Hadco as Senior VP of Sales + Mkting at Hadco.