Richelieu posts Q2 growth

MONTREAL — Quincaillerie Richelieu saw sales increase by 15.5% in the second quarter, reaching $190.8 million. The bulk of the growth was internal to the company, but it was also bosted by acquisitions. Last month, Richelieu acquired Single Source Cabinet Supplies, a speciality hardware retailer in Dallas. The acquisition gives Richelieu strategic access to the lucrative Texas market. Sales to manufacturers increased 14.3% during the period. The company bought back 143,000 shares totalling $8.7 million.