Doman Building Materials Group Acquires Fontana Wholesale Lumber and Wood Preserving
Doman Building Materials Group Ltd. announced the acquisition of the lumber pressure treating plant, related equipment, and business formerly owned by Fontana Wood Preserving, Inc. and Fontana Wholesale Lumber, Inc. by its wholly-owned subsidiary L.A. Lumber Treating, Ltd.
L.A. Lumber has joined the California Cascade family of companies.
The plant is in Fontana, California, and is strategically located near another California Cascade facility, doubling our overall capacity for Southern California and complementing our suite of US West Coast offerings.
The Plant’s purchase price was paid in cash using the Doman group’s existing credit facilities, and it is expected to be immediately accretive to earnings.
Doman’s Chairman and CEO, Amar Doman stated, “We are very excited with this Acquisition. The Plant complements our US West Coast operations and strengthens our footprint in strong Southern California and southwestern US markets. This strategic acquisition exemplifies our strategy of adding scale and volume to the US West Coast in pressure-treated lumber and specialty wood products.”
Doman is headquartered in Vancouver, British Columbia, and trades on the Toronto Stock Exchange under the symbol DBM.
The company is a leading North American distributor of building materials, as well as Canada’s only fully integrated national distributor of building materials and related products.