0000950137-01-504174.txt : 20011101 0000950137-01-504174.hdr.sgml : 20011101 ACCESSION NUMBER: 0000950137-01-504174 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20011025 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20011030 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TRUSERV CORP CENTRAL INDEX KEY: 0000025095 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-LUMBER, PLYWOOD, MILLWORK & WOOD PANELS [5031] IRS NUMBER: 362099896 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-18397 FILM NUMBER: 1770937 BUSINESS ADDRESS: STREET 1: 8600 WEST BRYN MAWR AVE CITY: CHICAGO STATE: IL ZIP: 60631-3505 BUSINESS PHONE: 7736955000 MAIL ADDRESS: STREET 1: 8600 W. BRYN MAWR AVENUE CITY: CHICAGO STATE: IL ZIP: 60631-3505 FORMER COMPANY: FORMER CONFORMED NAME: COTTER & CO DATE OF NAME CHANGE: 19920703 8-K 1 c65698e8-k.txt CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) October 25, 2001 TRUSERV CORPORATION (Exact Name of Registrant as Specified in Its Charter) DELAWARE (State or Other Jurisdiction of Incorporation) 2-20910 36-2099896 (Commission File Number) (I.R.S. Employer Identification No.) 8600 WEST BRYN MAWR AVENUE, CHICAGO, ILLINOIS 60631-3505 (Address of Principal Executive Offices) (Zip Code) 773-695-5000 (Registrant's Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) Item 5. Other Events. TruServ Corporation issued the attached press release in connection with its sale of TruServ Canada to its Canadian members. Matters discussed in the attached press release are forward-looking statements within the meaning of the safe-harbor provisions of the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties. Actual results may vary materially from the expectations contained therein. The factors that could cause actual results to differ materially from the projections, forecasts, estimates and expectations discussed therein may include factors that are beyond the company's ability to control or estimate precisely, such as the ultimate requirements of the company's lenders, projections about the efficiencies that may be achieved by the company's initiatives, expectations about member response to the company initiatives, estimates of future market conditions in the hardware industry, the behavior of other market participants in the industry and the actions and economic conditions in the service territories of the company's members. Other risk factors are detailed from time to time in the company's SEC reports. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date of this document. The company does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this letter. Item 7. Exhibit 99.1 News release, dated October 25, 2001 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TRUSERV CORPORATION (Registrant) Date: October 30, 2001 By /s/ Pamela Forbes Lieberman ---------------------------------- Name: Pamela Forbes Lieberman Title: Chief Operating Officer, Chief Financial Officer and Senior Vice President -2- EX-99.1 3 c65698ex99-1.txt PRESS RELEASE Exhibit 99.1 [TRUSERV LOGO] NEWS RELEASE For more information contact: Mary Viola TruServ Corporation 773-695-5280 TRUSERV SELLS CANADIAN CO-OP TO CANADIAN MEMBERS CONTINUE TRUE VALUE BRAND PRESENCE, EXCLUSIVE PAINT DISTRIBUTION IN CANADA CHICAGO (OCTOBER 25, 2001) - TruServ Corporation, the world's largest hardware and home improvement cooperative, announced today that it has sold its Canadian assets, including a regional distribution center in Winnipeg, Manitoba, to its Canadian members. The agreement allows the Canadian members to own all the operational assets in Canada and function as a cooperative in their country. According to Pamela Forbes Lieberman, chief operating officer and chief financial officer of TruServ, "This transaction lets TruServ repatriate its Canadian investment while ensuring the True Value brand name remains strong in Canada." TruServ also inked an agreement to license the True Value brand name to the co-op's Canadian members. Under the agreement, the Canadian cooperative retains its membership in the American co-op. In addition to purchasing paint and paint sundries from True Value Manufacturing, the Canadian co-op will be an international member of TruServ. In addition to a cash payment and licensing fees, the Canadian co-op assumed existing revolver debt related to their operations. "The sale of TruServ Canada to our Canadian members strengthens our balance sheet and reduces our debt," said Forbes Lieberman. "It's one more step in our strategic plan of returning our co-op to sustainable profitability in 2002." TruServ is the world's largest member-owned wholesale hardware cooperative with sales in 2000 of $4 billion, which support annual retail sales of more than $12 billion. The TruServ cooperative includes more than 7,500 independent retailers worldwide operating under store identities which include True Value, Grand Rental Station, Taylor Rental, Party Central, Home & Garden Showplace and Induserve Supply. Additional information on TruServ and its retail identities is available at www.truserv.com. ###