BlueLinx Holdings, Marietta, Ga., has acquired privately-held wholesale distributor Vandermeer Forest Products, Spokane, Wa.
The $67-million purchase price includes $3.6 million for the distribution facility and real estate in Spokane, and $63.4 million for the business. Over the last 12 months, Vandermeer’s sales slightly exceeded $150 million.
Vandermeer was founded in 1972 and serves more than 250 customers across the Pacific Northwest, Alaska, Hawaii, British Columbia and Alberta from distribution facilities in Kent, Spokane, and Marysville, Wa.
“With the addition of Vandermeer, we now have a footprint that spans coast-to-coast and serves all 50 states, including direct access to Seattle and Portland, two of the fastest growing metro areas in the United States,” said Dwight Gibson, president and CEO of BlueLinx. “This acquisition is well-aligned to our specialty product growth strategy, gives us a meaningful growth platform in the Pacific Northwest, a stated strategic priority, and is consistent with our disciplined approach to capital allocation. Additionally, this acquisition further strengthens our relationships with key strategic suppliers and increases our market penetration in high-value, specialty product categories, specifically siding and engineered wood. Notably, there is no operational overlap, and our team has developed a robust integration plan to drive commercial and operational synergies.”
“We are thrilled to join BlueLinx, a company whose performance-based culture closely aligns to what we have built at Vandermeer over the last 50 years,” said Dave Staudacher, president and CEO of Vandermeer Forest Products. “We believe its scale, private label products, broader specialty product offering, and operating efficiencies make BlueLinx the ideal buyer of Vandermeer and we are excited to become part of this next chapter of growth at BlueLinx.”