Hardwoods Completes Acquisition of Rugby Architectural Building Products
LANGLEY, BC, — Hardwoods Distribution Inc. today announced the completion of its previously announced acquisition of substantially all of the assets used in the business of Rugby Acquisition, LLC and its subsidiaries, collectively doing business as “Rugby Architectural Building Products.” The Acquisition was completed for a purchase price of $107 million plus up to another $13 million based on future performance. The effective date of closing of the Acquisition was July 15, 2016.
“This is a highly strategic business combination,” said Robert Brown, President and Chief Executive Officer of Hardwoods. “With the completion of the Acquisition, Hardwoods is now North America’s largest distributor of hardwood lumber, panel and interior architectural building materials, with a coast-to-coast US presence and significantly increased access to commercial end-markets.”
Source: Hardwoods Distribution