B.C. hardwood wholesaler buying U.S. distributor in US$107-million deal

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.

Follow @HealingSlowly on Twitter.