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BlueLinx sells New Orleans distribution center

Proceeds from sale are being used to pay debt.

BY HBSDealer Staff

BlueLinx Holdings Inc. reported that it has sold its former distribution center in New Orleans, La. For a $1.4 million.

The Marietta, Ga.-based building products distributor said the proceeds from the sale will be used to pay debt. BlueLinx also said it “remaind committed to the New Orleans market” and will service the area from a neighboring distribution center in Gulfport, Miss.

This past June, BlueLinx announced it had sold former distribution centers in Minneapolis and Des Moines, Iowa for about $12 million. Proceeds from the sales were also used toward company debt.

When BlueLinx completed its acquisition of Cedar Creek in April 2018, the $413 million deal added 31 Cedar Creek distribution locations to BlueLinx’s existing 39 distribution facilities.

BlueLinx says it services approximately 15,000 national, regional, and local dealers, as well as specialty distributors, national home centers, industrial, and manufactured housing customers in 40 states.

In August, the distributor reported a second quarter 2019 net income of $6 million compared to a net loss of $9 million for the same period last year. But for the quarter decreased 21% to $706 million compared to $893 million in the second quarter of 2018.

 

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