Stock Building Supply, the largest supplier of building materials to professionals in the U.S, has acquired J.C. Baldridge Lumber, Albuquerque, NM., where single-family housing starts have increased from 4,576 in 2000 to over 8,000 in 2004. Albuquerque ranks #12 on the 40 Hottest Real Estate Markets in the U.S.
According to Fenton Hord, Stock President and CEO, "The acquisition of Baldridge gives Stock its first operation in the state of New Mexico. Baldridge is an attractive target in the high-growth Albuquerque market. Mirroring Stock's business values, it represents the oldest and most respected supplier in the market with a reputation of fair and excellent service."
J.C. Baldridge Lumber, with annual sales of more than $33 million, brings 75 associates to Stock. Founded in 1881 by J.C. Baldridge, and run by his two great grandsons, the contractor yard is located on 9.4 acres, and consists of approximately 54,000 sq-ft of buildings used office, warehouse and material storage. All key management personnel are expected to remain with Stock. George Harley, with the Company for 32 years, has been responsible for day-to-day contractor operations for the past 18 years and will continue his management position.
Raleigh, NC-based Stock Building Supply now operates 256 locations in 30 states, with reported sales of $3.6 billion in the fiscal year 2004; ending July 31st. Stock Building Supply is a subsidiary of Wolseley plc of Theale, England, which had worldwide sales in fiscal year 2004 of over $18 billion. Wolseley is traded on the New York Stock Exchange as WOS.
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