Runnings and Home of Economy Close on Agreement
Minnesota-Based Retailer Expands Footprint to 90 Locations by Investing in 8 North Dakota Communities
September 4, 2024, Marshall, MN — Runnings, a Minnesota-based farm, home and outdoor retailer, has closed on an agreement to purchase Home of Economy, a family-owned company with eight stores in North Dakota. With the completion of this acquisition, Runnings’ footprint expands to 90 locations, serving customers in 12 northern states from Montana to Connecticut.
These stores and communities are very similar to the markets we presently serve, including our six other North Dakota locations,” said Runnings President Brian Odegaard. “We are excited to add these stores and staff to our growing company.”
The eight stores will continue operating as Home of Economy for a limited time as they transition to the Runnings brand. Conversions are expected to be complete in early 2025 and Grand Opening celebrations are planned for the spring.
“Home of Economy has been in business for 85 years, founded by my grandparents Bob and Jean Kiesau,” said CEO Scott Pearson. “While this day is bittersweet for us, we have confidence that Runnings will carry on our legacy of providing every customer with the products and services they need at guaranteed lowest prices. I want to thank our loyal customers. It has been a pleasure serving you.”
Pearson added, “We will continue to operate The Amish Gallery furniture store, and are preparing to move the business to a new location within The Grove retail development on South Washington in Grand Forks.”
“We have known Home of Economy and the Kiesau family for decades,” said Odegaard. “They have built a strong company, and we are confident this acquisition is a great fit for us.”
View new store information here.
About Runnings:
Runnings is a privately held retailer selling an extensive selection of pet supplies, sporting goods including hunting and fishing equipment, clothing and footwear, lawn and garden supplies, housewares, tools, farm supplies, toys, and outdoor equipment. Founded in 1947 and owned by the Dennis and Adele Reed Family, the Company operates 80 stores and previously announced the opening of two new locations in October 2024. The Home of Economy acquisition will bring Runnings’ store count to 90. Runnings employs more than 3,000 people across twelve states. For more information visit Runnings.com.
About Home of Economy:
Automotive supplies to garden supplies, bakeware to outdoor-wear, work boots to toys... if you need it, Home of Economy has it, at guaranteed lowest prices! Founded in 1939 in Thief River Falls, MN by M. W. “Bob” Kiesau and his wife, Jean, Home of Economy was originally an auto parts wholesale business. In February 1940, Bob started a store in Grand Forks, ND, recapping used tires at night and selling them during the day. In the years since, Home of Economy has grown to include stores in other North Dakota cities including Grafton, Devils Lake, Rugby, Minot, Williston, Jamestown & Watford City.