Boise Cascade acquires Nashville distributor
Boise Cascade Company is acquiring Lumberman’s Wholesale Distributors, a Nashville, Tenn.-based distributor of engineered wood products, commodity lumber items, and specialty building materials.
The acquisition is expected to be complete in the coming weeks. Terms of the deal were not disclosed.
“We are very pleased to welcome the Lumberman’s associates to Boise Cascade. They have been an excellent distributor for nearly 50 years,” said Nick Stokes, executive VP of Boise Cascade Building Materials Division. “This location will allow us to strengthen our nationwide presence and satisfy a growing demand for our products and services in the Tennessee Valley and Central Kentucky markets.”
Founded in 1969, Lumberman’s supplies pro dealers, millwork houses, and manufacturers.
“We are excited to join Boise Cascade,” said Garey Keltner, president, Lumberman`s Wholesale. “We believe there is a strong cultural and strategic fit that will allow us to grow and continue to serve our customers.”
Last month Boise Cascade reported fourth quarter 2017 net sales of just over $1 billion, up 19% from fourth quarter 2016 net sales of $919 million. For the full year, the engineered wood products and building products supplier reported sales of $4.43 billion, a 13% increase from sales of $3.91 billion in 2016.
The Boise, Idaho-based company also recently reported a fourth quarter net income of $19.1 million, soaring well above a fourth quarter 2016 net income of $4 million. For the full year Boise Cascade reported a net income of $83 million, increasing 117% from a net income of $38.3 million in 2016.
Boise Cascade is one of the nation’s largest producers of engineered wood products and plywood in North America and is a major wholesale distributor of building products.
HBSDealer Stock Watch: BXC skyrockets
|Shares of BlueLinx surged nearly 80% on Monday following the announcement that the building product distributor was acquiring Cedar Creek. Beyond BXC, stocks tracked by HBSDealer were all over the board. Gainers led decliners 17-13.|
|BECN gained 3.1% and BCC was up 2.4%. Elsewhere on the Stock Watch, TSCO slipped 2.6%.|
|BLDR (Builders FS)||21.64||+0.32%|
|BMCH (BMC Stock)||20.05||+0.75%|
|CENT (Central Garden)||41.29||+1.70%|
|DE (Deere & Co.)||164.03||-2.32%|
|HD (Home Depot)||179.71||-1.34%|
|LL (Lumber Liquidators)||25.04||-0.24%|
|SMG (Scotts Miracle-Gro)||92.17||+0.30%|
|TSCO (Tractor Supply)||63.66||-2.57%|
|UFPI (Universal Forest)||33.63||+0.63%|