PRO Group, Inc., a merchandising and marketing organization based in Denver, today announced an ownership change that will ensure the company's continued success. President and CEO Steve Synnott, a 20-year veteran of the company, purchased privately held PRO Group from Gary Cosgrave for an undisclosed price.

Cosgrave's parents, Paul and Hazel, founded the company in 1953 and Gary has been involved in the company for its entire existence.

Cosgrave, the company's chairman of the board,  will remain involved in PRO Group's strategic planning and said nothing will change in the company's operations or staff.

"Steve Synnott has demonstrated his leadership capabilities and integrity," Cosgrave said. "I have confidence in Steve's commitment to leverage the group's marketing strength. The sale ensures perpetuation of the company my family started. I look forward to continuing my responsibility to support the success of independent retailers in today's competitive market. We have an outstanding team in place to do that."

Synnott said he feels privileged to build on PRO Group's legacy.

"PRO will continue to generate a value to all of our business partners," Synnott said. "The expert staff and outstanding customer base of PRO Group provide a great foundation for continued growth and industry contribution."

PRO Group remains dedicated to the success of independent retailers. Marketing, advertising and buying advantages will remain cornerstones of the company's value to retail, wholesale and manufacturing channel partners.

"Independent retailers across the United States and Canada that are served by PRO Group's 26 member distributors and more than 350 key suppliers have a bright and prosperous future," Synnott said. "We aim to be a key factor in their growth with an unwavering commitment to the fundamental services that are the foundation of PRO."

Doyle Wallace who is CEO of the Morristown, Tenn.-based Wallace Hardware Co., Inc., said his company has been associated with PRO since the mid-1960s. Wallace said, "Both Paul Cosgrave and his son, Gary, have been leaders in this industry. The Cosgraves have cast a tall shadow of vision and integrity." He added, "My dad used to tell us that PRO needles us to do the things we ought to be doing anyway. PRO makes us a better company and distributor to the dealers we serve."

Wallace, who is a PRO Group board member, said he salutes Gary Cosgrave's foresight in arranging the continuance of PRO Group through Steve Synnott and his team in Denver. "This transition goes to a talented team with great leadership. For all the industry -- the vendors, distributors and retailers alike -- this move is a win-win and couldn't go smoother. Congratulations to both Gary and Steve for making this happen. They are two great men."

PRO board member Bill Bollin, chairman and CEO of The Bostwick-Braun Company, a PRO distributor based in Toledo, Ohio, said, "In our industry succession planning is so important. Given his knowledge of the business and knowledge of the industry, Steve is the ideal choice to move the company forward. Gary has remained involved from a strategic standpoint and the fact he is going to stay on as chairman is a positive move."  Bollin added, "The transition of ownership will be positive in a lot of respects. As owner, Steve will have the latitude to spread his wings and move the company in some new directions. It's possible he will turn over some rocks and discover some new opportunities."

George Hebert, president of Blackstone Supply, LLC, a paint sundries and hardware distributor based in Providence, R.I., echoed the praise of his fellow board members.  "Gary made a good choice in Steve," said Hebert. "Steve has been able to keep the company stable and progressive. He's maintained quality without adding manpower. We look forward to working with Steve in the future."  Blackstone Supply is a Bostwick-Braun Company.                                                             

PRO Group, Inc. (www.pro-group.com) is a multidivisional international merchandising and marketing organization with corporate headquarters in Denver. Its operating units include PRO Hardware, GardenMaster, FARM MART and GOLDEN-LINK. The company's purchasing power exceeds $3 billion through its member distributors.