Foundation Building Materials Inc. (NYSE: FBM), Santa Ana, California, announced that it has closed the acquisition of Marriott Drywall Materials Inc., an independent distributor of drywall and accessories, steel framing, insulation, tools and fasteners that has served the Greater Milwaukee, Wisconsin, area for 22 years. Financial terms of the transaction were not disclosed.
“The addition of Marriott further builds our residential and commercial market presence in the Milwaukee metropolitan area,” said Ruben Mendoza, FBM’s president and CEO. “With a strong track record of unparalleled customer service, Marriott is a welcome addition to the FBM network.”
The company expects Marriott’s performance to be consistent with prior years, with an estimated $2 million to $3 million in net sales for the remainder of 2020. This acquisition is expected to be immediately accretive to the company with financial benefits driven by increased scale and cost savings.