CALGARY – A B.C. wholesaler of hardwood lumber, plywood and other products is buying an American rival for US$107 million to gain access to new U.S. markets for its products.
Hardwoods Distribution Inc. (TSX: HWD) of Langley, B.C., said Monday that it is buying most of the assets of Rugby Architectural Building Products from its New Hampshire-based owner.
The deal includes the payment of up to another US$13 million based on future performance.
Rugby operates 31 facilities and employs 560 people in the United States. Its leadership team and employees are expected to remain in place.
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