Texas- based The Leather Factory Inc – an international marketer and wholesale distributor of leather, leather working tools, leather dyes and finishes, saddle and tack hardware which it distributes through Tandy Leather outlets – has announced that it has acquired Canadian company 1124055 Ltd  and its subsidiary, Heritan Leather and Crafts.

The Leather factory purchased the Ontario-based company for $475,000 which is substantially less than the book value of the companies. As a result of the transaction, The Leather Factory has acquired three new retail outlets in Canada – taking the company’s number of stores in Canada to seven -  which will be renamed Tandy Leather effective immediately.

“Heritan was the successor to Tandy Leather Company of Canada when that company decided to exit the Canadian market years ago and has been our primary competitor in Canada. Similar to that in the US, the Tandy Leather name is highly recognised in the Canadian leathercraft industry. We believe this acquisition is a significant step forward in accelerating our growth throughout Canada,” commented Wray Thompson, chairman and CEO of the Leather Factory. 

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