Hillman board approves $100 million share buyback program

Hillman Solutions Corp. (NASDAQ: HLMN) announced its board of directors authorized a share repurchase program allowing the company to buy back up to $100 million of its outstanding common stock.

The hardware products provider said the authorization permits management to repurchase shares at its discretion through various methods, including 10b5-1 trading plans, open market purchases, and privately negotiated transactions in compliance with Securities Exchange Act regulations.

This marks Hillman's first share repurchase program since the company went public in 2021.

"We have made great progress improving our balance sheet over the past few years, and now feel it prudent to put a share repurchase program in place," said Jon Michael Adinolfi, Hillman's president and CEO. "The SRP gives us the opportunity to buy back stock while we continue to invest in organic growth opportunities, pay down debt, and grow through acquisition."

Hillman provides hardware products and merchandising solutions to home improvement, hardware, and farm and fleet retailers across North America. The company's portfolio includes fasteners, protective gear, and robotic solutions such as key duplication services.

The information is based on a company press release statement.

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