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.
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