BXC - Building products distributor BlueLinx buys Vandermeer Forest Products for $67M
- Building products distributor BlueLinx ( NYSE: BXC ) on Monday said it had acquired privately-held Vandermeer Forest Products for $67M.
- The deal value includes Vandermeer's distribution facility and real estate in Washington for $3.6M and $63.4M for the business.
- The deal was funded through cash on hand and is expected to be immediately accretive to EPS, BlueLinx ( BXC ) said in a statement .
- According to BXC, Vandermeer was founded in 1972 and serves more than 250 customers across the Pacific Northwest, Alaska, Hawaii, British Columbia and Alberta.
- "With the addition of Vandermeer, we now have a footprint that spans coast-to-coast and serves all 50 states, including direct access to Seattle and Portland, two of the fastest growing metro areas in the United States," said BXC CEO Dwight Gibson.
- BXC stock earlier closed +5.1% at $65.25.
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Building products distributor BlueLinx buys Vandermeer Forest Products for $67M