Richelieu Hardware has purchased the shares of Task Tools. The Delta, B.C.-based hand and power tool accessory company, which also has a facility in Brantford, Ont., represents brands such as Task Signature and Tuf-E-Nuf.
The family-owned business has been in the hands of Craig Caplan, son of company founder Michael Caplan, who established the business in 1968. The Caplan family will hold onto the properties in Delta and Brantford. Craig Caplan will stay on to continue managing the business under Richelieu.
Richelieu has been on an acquisition trajectory for many years, buying up companies both here and in the U.S. Last year, the company bought up The MIBRO Group, a Toronto-based supplier of hardware, hand tools and power tool accessories. And it has also signed agreements in principle to acquire two Canadian distributors.
