Runnings, a Minnesota-based retailer, has announced an agreement to purchase eight Home of Economy (H.O.E) stores located across North Dakota. The acquisition is set to be finalized by September 4, 2024, with the stores transitioning to Runnings branding by September 5, 2024. This move is part of Runnings' strategy to expand its footprint, aiming to reach a total of 90 locations nationwide. Founded in 1947 by the Reed Family, Runnings has grown to employ over 3,000 people and is known for its wide range of products catering to rural communities [3ee39c33].
The eight H.O.E stores being acquired are situated in key locations including Grand Forks, Grafton, Devils Lake, Rugby, Minot, Williston, Jamestown, and Watford City. H.O.E has a long-standing presence in the region, having been established 85 years ago by founders Bob and Jean Kiesau. This acquisition not only marks a significant expansion for Runnings but also reflects the competitive retail landscape in North Dakota, particularly with the anticipated competition from Mills Fleet Farm in Bismarck [3ee39c33].
As Runnings prepares for this transition, the company is focused on maintaining the legacy of H.O.E while integrating its own retail strategies. The acquisition is expected to enhance Runnings' market presence and provide more options for consumers in North Dakota. The community impact of this transition will be closely monitored, especially regarding employment opportunities and local economic growth as Runnings takes over the operations of these established stores [3ee39c33].