LANGLEY, B.C. - Hardwoods Distribution Inc. (TSX: HWD) says it has purchased substantially all of the assets and assumed certain liabilities of Eagle Plywood and Lumber, paying $400,000, plus up to an additional $200,000 subject to future sales performance. The acquisition, valued in U.S. dollars, was made through its subsidiary Rugby Holdings LLC, financed by a draw on Hardwoods' existing credit facility.
Eagle is a single site wholesale distributor located in Dallas, with estimated annual sales of $5 million, distributing non-structural architectural grade
building products to customers that supply end-products to the commercial, industrial, retail, residential and institutional construction end-markets. The assets
and sales associated with the Eagle acquisition will be consolidated into the existing Rugby distribution facility in Dallas.
"This acquisition is a good example of our ability to leverage the robust pipeline we acquired as part of the acquisition of Rugby Architectural Building Products
last year," says Rob Brown, Hardwoods Distribution President and CEO. "Dallas is a significant market and the addition of Eagle to our existing operations in the
region adds customers and bench strength to our team."
Hardwoods Distribution Inc. is North America's largest distributor of non-structural architectural grade building products to the residential and commercial construction markets. The Company operates a North American