HDI Makes Third Acquisition of 2020

Log In

HDI Makes Third Acquisition of 2020

Canadian building products distributor acquires Rockford, Illinois-based distributor River City Millwork Inc.
HDI acquires River City Millwork
Author
Date

Building products distributor Hardwoods Distribution Inc. (TSX: HDI), Langley, British Columbia, this week announced that it has, through its subsidiary Rugby Holdings LLC, acquired River City Millwork Inc. for $4.2 million.

Based in Rockford, Illinois, River City Millwork is a wholesale distributor of interior and exterior doors, custom millwork and other ancillary products. The company’s estimated annual sales are $14 million. It will operate under the Rugby brand name going forward.

“We are pleased to announce the acquisition of River City Millwork,” said Rob Brown, HDI’s president and CEO. “River complements the Pacific Mutual Door business we purchased in the fourth quarter of 2019, strengthening existing supply relationships and expanding our geographic footprint.

“Over the last several years we have been strategically growing our presence in doors and related millwork distribution. The performance of this product category has been one of our strongest year-to-date and now represents over 15% of consolidated revenues. We expect this product category to benefit from the increase in U.S. residential home building and repair and remodel construction.”

The addition of River City Millwork marks HDI’s third acquisition in 2020 and “reflects the company’s continued execution of its acquisitions strategy,” HDI said in the press release announcing the deal. “The North American architectural building products distribution industry remains highly fragmented. With HDI’s robust acquisitions pipeline and strong balance sheet, the company intends to pursue additional accretive transactions that complement its growth strategies.”

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.