Hedberg brings more than 30 years of wholesale and retail leadership experience.

Jeff Gramm, the company’s chairman, said: “We are extremely grateful to Janet Carr for six years of outstanding leadership of Tandy Leather. Under Janet, the company has improved our product quality and found new categories of customers despite some difficult economic headwinds, most notably during the Covid crisis. We are very happy to have now identified Johan Hedberg as Tandy’s next CEO. Johan brings an impressive history of team leadership and driving sales, both in the US and internationally. We are thrilled to welcome him to the Tandy team.

“Janet has agreed to remain with Tandy through the end of March to assist primarily with the transition, completing our 2024 financial reporting and preparing for our headquarters move later this year,” Gramm continued.

Tandy Leather Factory has announced that it had closed on the sale of its corporate headquarters facilities, including its primary distribution centre and flagship retail store. Concurrently with the closing, the company entered into lease agreements to remain in its current spaces until approximately September 2025. The company is continuing to seek a new location for its Fort Worth flagship store, which remains open at its current site. The company also announced it had entered into a ten-year lease for new headquarters and distribution space at Chisolm 20 Commerce Park in Benbrook Texas, a few miles from its current offices. The lease, for approximately 134,000ft2, will runs through to September 2035.

Hedberg stated: “I am excited by the opportunity to lead Tandy Leather, with its more than 100-year history as the leading specialty retailer of leather and leather-crafting products. I look forward to the opportunities and challenges ahead to grow sales and continue to reach new customers as we move to our new facilities and the next chapter in Tandy’s story.”

Carr added: “It has been an honour and privilege to serve Tandy, our employees, business partners, shareholders and the leatherworking community over the past six years together with this talented, passionate, committed team. I wish the team the very best for the future.”

The company has elected John (Rocky) Sullivan to join its board of directors. Sullivan is an investment advisor representative and investment analyst with JCP Investment Management; he is also the owner of Sullivan Companies and its affiliates, which are engaged in investment management, real estate development and production agriculture. With Sullivan joining, directors James Pappas, as well as Carr, will step down from the board. Director Eric Speron has also stepped down.

The company has also announced that its board of directors had declared the payment of a special cash dividend to its stockholders of $1.50 per share of common stock held.

Tandy Leather Factory, which is headquartered in Fort Worth, Texas, is a specialty retailer of a broad product line, including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits.

The company distributes its products through its 99 North American stores (including two temporarily closed for relocation) located in 40 US states and six Canadian provinces, and one store located in Spain.