ENAP, Inc. and Progressive Affiliated Lumbermen Cooperative, Inc. (PAL) Receive Shareholder Approval on Merge
New Windsor, NY & Grand Rapids, MI – February 19, 2015
The lumber and building material buying cooperatives PAL and ENAP, Inc. today announced that they have received shareholder approval on merging the two cooperatives. The newly merged cooperative will be called LBM Advantage, Inc.
“The vote today, with overwhelming support from both memberships, along with the discussions with the dealers, employees and vendors of PAL and ENAP has energized this initiative,” stated ENAP President and CEO Steve Sallah. “I am looking forward to the next phase and the opportunities this merger will provide to the shareholders of LBM Advantage.”
With a mid-year transaction anticipated, the two cooperatives will begin immediately the due diligence process as well as the planning necessary to integrate their operations and systems. Together, LBM Advantage’s combined membership will span 33 states and include 447 member companies operating 742 lumberyards.
LBM Advantage, Inc. plans to operate out of three locations in New Windsor, N.Y., Grand Rapids, Mich., and Monroe, La. The new cooperative will further utilize these locations to provide a national footprint with regional expertise as it continues its geographic expansion.