HDI Announces Acquisition of Diamond Hardwoods16 March 2020
Hardwoods Distribution has announced that it has bought all of the assets and assumed certain liabilities of Californian wholesale distributor Diamond Hardwoods.
"I’m pleased to announce the acquisition of Diamond Hardwoods, the addition of Diamond complements our existing Northern California operations and provides additional size and scale in an attractive growth market," said Rob Brown, president and CEO of HDI.
Diamond will trade under the Hardwoods brand name going forward and will operate as part of the Hardwoods Northern California Group.
“We appreciate the opportunity to continue to provide outstanding service to Diamonds loyal customer base, and provide them with a wider range of products and vendor relationships going forward,” said Mike Couture, general manager.
HDI’s acquisition strategy has added US$690m in annualized sales and 45 new branch locations since 2011. The company stated that its acquisitions pipeline remains active and it intends to pursue additional transactions that complement its growth strategy.