Taiga acquiring Exterior Wood
Exterior Wood has been operating a wood treatment facility and distribution center in Washougal, Wa. since 1977.
Taiga Building Products Ltd., the Burnaby, British Columbia, Canada-based wholesale building products distributor, has entered into an agreement to acquire Exterior Wood, Inc.
Terms of the deal call for a subsidiary of Taiga to acquire all of the issued and outstanding common shares of Exterior Wood for a price of about US$42 million.
Exterior Wood has been operating a wood treatment facility and distribution center in Washougal, Wa. since 1977, and services retail building supply centers throughout the western United States and Canada with a wide array of pressure treated products.
The acquisition will expand Taiga’s existing wood treatment operations, which incluedes three facilities in Canada, with additional penetration into the United States market. Taiga currently operates 15 distribution centers in Canada and 2 distribution centers in Northern California along with 6 reload locations in the Eastern U.S.
“The acquisition of Exterior Wood and the expansion of our wood treatment business represents a significant step forward in our corporate strategy of pursuing value enhancing opportunities,” Trent Balog, president and CEO of Taiga, said in a statement issued by the company. “With a well-established customer and supplier base, we believe that the Exterior Wood acquisition will be accretive to Taiga’s business and will successfully integrate within our proven operational capabilities, in addition to expanding our distribution reach in a strategic region.”
Added Dave Perry, president of Exterior Wood, “We are excited to be associated with a company as well respected in our industry as Taiga. In addition to placing a high value on our customer relationships, suppliers and employees, it has a culture that matches very well with the one we have developed over time at Exterior Wood. We are enthusiastic about what the future holds as we work together.”
Taiga produces preserved lumber at 3 plants strategically located to service the Canadian market, the company said.
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