LANGLEY, B.C. - Hardwoods Distribution Inc. (TSX: HWD) says it closed on its buyout of the assets used in the business of Rugby Acquisition, LLC and its subsidiaries, collectively doing business as “Rugby Architectural Building Products.”
The $107 million deal, first announced by Hardwoods Distribution in June, was concluded effective July 15, 2016.
With the closing of the asset purchases, Hardwoods Distribution says it is now the largest distributor of high-grade hardwood lumber, sheet goods, and architectural grade building products. Including Rugby Architectural Building Products Hardwoods Distribution has a North American network of 62 distribution centers, as well as 1 sawmill and kiln drying operation.
“This is a highly strategic business combination,” said Robert Brown, Hardwoods CEO. “With the completion of the acquisition, Hardwoods is now North America’s largest distributor of hardwood lumber, panel and interior architectural building materials, with a coast-to-coast U.S. presence and significantly increased access to commercial end-markets.”
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