R.P. Acquisition Corporation, a wholly-owned subsidiary of R.P. Lumber Co., Inc., announced its acquisition of the assets of Stock+Field. In January, Stock+Field filed for bankruptcy and had intended to close all of its stores.
Founded in Watseka, IL in 1964 as Big R Stores, Stock+Field has grown to include 25 stores in Illinois, Indiana, Ohio, Michigan, and Wisconsin. Based in Edwardsville, IL, R.P. Lumber Co., Inc. is a family-owned retailer that operates 72 full-service hardware and building material stores throughout Illinois, Missouri, Wyoming, and Iowa. The company was founded in 1977 by CEO Robert L. Plummer in Staunton, IL.
The acquired stores will retain the Stock+Field name, and the new owners will seek input from employees and the communities they serve as they plan for the future of the brand. The stores will continue to operate in the farm and ranch space, providing the same products and services they have been providing communities for many years.
R.P. Acquisition Corporation said it recognizes that the loss of these stores would leave a difficult hole to fill in each of their local communities. With this in mind, they will endeavor to keep the customers, the employees, and their families united as a community, rooted in the heartland.
“Our focus right now is on keeping Stock+Field stores open and serving the many communities they have served for years and, in some instances, decades,” said Robert L. Plummer, Chairman of R.P. Acquisition Corporation. “The Stock+Field teams at each store are personally connected to their customers and their communities, and we see tremendous value in maintaining and strengthening those bonds. Many great R.P. Lumber team members have worked and continue working hard every day to build a strong reputation in the communities where we operate. We intend to bring the same culture and community mindset to Stock+Field.”
“These stores have a decades-long tradition as part of the fabric of the community,” said Jason Plummer, president of R.P. Acquisition Corporation. “We love the farm and ranch space but, perhaps even more importantly, we saw this as an opportunity to invest in rural America, contribute to the growth of these great communities, and help keep many good, hard-working people employed.”
Photo courtesy Stock+Field
