Central Valley acquiring Foster Lumber
Foster Lumber operates 2 locations in Vallejo and Fairfield, Calif.
Central Valley, the Napa, Calif.-based pro dealer, is acquiring Solano County-based Foster Lumber Yard.
Foster operates two locations in Vallejo and Fairfield, Calif. while serving contractors and builders in Solano and Napa counties. The transaction is expected to close by Nov. 30. Terms of the deal were not disclosed.
The move expands the reach of Central Valley, which already operated 6 full-service yards throughout Northern California with sales approaching $140 million.
In a statement, Central Valley said that it will bring new investment and operational depth to Foster Lumber to further enhance both companies’ competitiveness with its current list of prominent regional builders. Foster Lumber will continue to operate as a separate, wholly-owned subsidiary with the current management in place.
“We’re bringing two forces together with similar cultures and many of the same builder clients,” said Steve Patterson, CEO of Central Valley. “For Foster Lumber, Central Valley brings new investment to grow the business and operational opportunities, like purchasing and distribution, to enhance Foster’s dedicated service to its customers. For Central Valley, we are able to expand our product offering and our presence in the greater San Francisco Bay Area.”
Founded in 1955, Central Valley maintains more over 41 acres of inventory and 55 delivery vehicles. The company also offers custom milling, prefabricated walls, and has a dedicated design department for custom plan take-offs. The acquisition of Foster Lumber expands Central Valley to 9 locations.
“As I get ready to retire, this opportunity will make us better together and make sure the legacy of Foster Lumber is in good hands moving forward,” said David Jones, second-generation owner and president of Foster Lumber. “Both companies have strong relationships with custom homebuilders and professional remodelers. This is an excellent combination of service capabilities.”
“With continued demand for new construction, and a robust remodel market in the Bay Area, time is money for our customers. Together we have an opportunity to bring additional products, services, convenience, and expertise to our customers,” said Patterson. “We welcome Foster Lumber Yard to the Central Valley family.”
Founded by Gilbert Foster in 1920, Foster Lumber it has been in Jones family since 1946
Central Valley said it donates 2% of net profits from every purchase to help build affordable housing.
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