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Benjamin Moore & Co. has acquired New York City's largest independent paint dealer, moving to bolster its local retail force against the onslaught of home superstores.
The family that owns Janovic Plaza Inc., which operates 17 stores in New York City and on Long Island, sold the 110year-old business to the Montvale, NJ.based paintgiant for an undisclosed amount. The Janovics will still manage day-to-day operations of the stores and maintain them as independent outlets.
"This transaction is seamless. To the outside world, nothing is going to change," says Adam Janovic, who became president of the Long Island City, Queens-based company in connection with the deal. His father, Evan, and uncle Neil will remain as consultants.
Protect against big boxes
For Benjamin Moore, the acquisition is part of a larger effort to protect its turf against big-box stores such as Home Depot, as well as other paint manufacturers.