SiteOne Landscape Supply posted higher second-quarter sales, profit and gross margin as acquisitions, pricing and commercial initiatives offset continued weakness in residential construction and repair-and-upgrade demand.
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SiteOne nets 16 locations across five states and more than 250 employees.
Fiscal Year 2025 Net income for SiteOne increased 23%, compared to the prior year.
The deal comes eight days after SiteOne acquired another landscape materials distributor, as it continues its expansion into new markets.
In its seventh acquisition of the year, SiteOne focuses on the Tampa-Sarasota market.
In its fifth acquisition of the year, SiteOne adds hardscapes products and landscape supplies distributor Autumn Ridge.
The company is anticipating a negative impact on sales from hurricanes Helene and Milton in its fourth quarter.
This is the 3rd acquisition in 2023 for SiteOne, as it expands the number of markets in which it offers the full range of landscape supplies.
SiteOne finished 2022 with a strong fourth quarter.
M&A deals involving building supply facilities fell from 178 in 2021 to 164 in 2022, with lumber companies accounting for the most activity last year.
The Roswell, Georgia-based landscape company also reported 2021 year-end net sales of $3.48 billion, a 29% jump over 2020.
SiteOne Landscape Supply Inc. reported 2021 3Q sales of $936.4 million, a 25% increase over the same period last year.
