Hardwoods Distribution Inc. has, through its' subsidiary Rugby Holdings LLC ("Rugby") purchased substantially all of the assets and assumed certain liabilities of Eagle Plywood and Lumber ("Eagle") for a total value of $0.4 million plus up to an additional $0.2 million subject to future sales performance. The transaction purchase price was financed by a draw on the Company's existing US credit facility.
The assets and sales associated with the Eagle acquisition will be consolidated into the Company's 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," commented Rob Brown, Hardwoods' President and CEO.
Eagle is a single site wholesale distributor located in Dallas, Texas, 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.
Hardwoods Distribution Inc. is North America's largest distributor of non-structural architectural grade building products to the residential and commercial construction markets.