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ADENTRA Announces US$130 Million Acquisition of Woolf Distributing Company, Inc.
ADENTRA Announces US$130 Million Acquisition of Woolf Distributing Company, Inc. Canada...
About this update from Adentra Inc
[{"type":"text","content":"\n\n\n\n ADENTRA Announces US$130 Million Acquisition of Woolf Distributing Company, Inc.\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n Acquisition enhances ADENTRA's product mix and geographic footprint in the Pro Dealer channel\n \n\n\n\n\n\n Expected to be immediately accretive to adjusted earnings per share and adjusted EBITDA margin\n \n\n\n\n\n\n LANGLEY, BC\n \n\n ,\n \n\n July 29, 2024\n \n\n /CNW/ – ADENTRA Inc. (\"\n \n ADENTRA\n \n \" or the \"\n \n Company\n \n \") (TSX: ADEN) today announced that one of its wholly owned subsidiaries has completed the acquisition (\"the\n \n Acquisition\n \n \") of substantially all the assets of Woolf Distributing Company, Inc. (\"\n \n Woolf\n \n \") and has assumed certain working capital liabilities.\n \n\n \"We are pleased to welcome Woolf's team to ADENTRA,\" commented\n \n Rob Brown\n \n , President and Chief Executive Officer of ADENTRA. \"Woolf expands our geographic footprint and product offering, adding complementary millwork locations to our US Midwest operations, as well as new branded specialty products in the outdoor living product category. The addition of Woolf also deepens our access to the attractive Pro Dealer customer channel where ADENTRA expects favorable multi-year demand from new residential and repair and remodel markets, supported by low existing home inventories, favorable demographics, strong home equity levels and an aging US housing stock.\"\n \n\n \"We remain committed to our Destination 2028 goals, including the achievement of\n \n US$3.5 billion\n \n in annual run-rate sales through a combination of organic and acquisitions-based growth. With today's announcement, we are right on pace to achieve our stated goal of adding\n \n US$800 million\n \n in run-rate sales from acquisitions by 2028,\" said Mr. Brown.\n \n\n\n Financial Consideration\n \n\n\n The Acquisition of Woolf was completed for an upfront purchase price of\n \n US$130 million\n \n , financed by the Company's existing credit facilities. A...