Pfeifer to Sell OneSource to National Home Centers

National Home Centers Inc. of Springdale announced on Oct. 30 that it has reached an agreement to purchase OneSource Home and Building Centers of Little Rock, a 101-year-old business.r

The terms of the deal were not released, but OneSource owner Eugene M. Pfeifer III said NHC “met my requirement,” which included letting OneSource employees keep their jobs.r

“The merger of forces is going to be good for National, the OneSource people and our customers as well,” Pfeifer said in a statement released by NHC.r

National Home Centers is owned by Dwain A. Newman. He founded the building and home improvement business in 1972 and took it public in 1993. But NHC suffered as megachains like Lowe’s and Home Depot moved into the market. In late 2001, Newman bought back the 34.4 percent of stock that he didn’t already own for $3.6 million, and the company returned to private ownership.r

NHC has 600 employees operating eight locations in Arkansas. It reported $121 million in revenue in 2002, up from $114.9 million in 2001. r