Lumber company Stock Building Supply Holdings announced Wednesay it agreed to combine with privately held Building Materials Holding, in a deal that positions the combined company to take advantage of demand for building supplies in the recovering housing market.
The two lumber companies, once bankrupt, had combined revenue of US$2.7 billion in 2014. Stock Building Supply went public again about two years ago, and shares closed Tuesday at US$18.10, giving it a market value of about US$474 million. The stock is up 18 per cent this year.
As well, Big C Lumber, out of Granger, IN, announced Thursday it has acquired its 16th lumberyard, expanding its presence in a growing Michigan market. The company is acquiring Stevenson Lumber, located in Adrian, MI, in it’s second acquisition in three years.