HDI acquires Aura Hardwoods
In the past two years, HDI has added $150 million in annual revenue through acquisitions.
Hardwoods Distribution Inc. (HDI), through its subsidiary Hardwoods Specialty Products US LP (Hardwoods), has acquired Aura Hardwoods (Aura).
Aura is a wholesale architectural building products distributor with estimated annual sales of US$53 million. The company operates in Northern California across six locations in Modesto, Rancho Cordova, San Jose, San Luis Obispo, Fresno, and Santa Cruz.
Following the acquisition, Aura will operate under the Hardwoods brand name. HDI is paying $12.7 million for Aura.
“California represents a significant market opportunity for us and we are excited by the addition of Aura to our operations in this state,” said Rob Brown, HDI president and CEO. “Together with the acquisition of Far West Plywood in 2019 and Diamond Hardwoods earlier this year we have grown our location count in the California market from three to twelve distribution sites, giving us comprehensive coverage in this attractive growth market.”
HDI operates a North American network of 71 distribution centers under the Hardwoods Specialty Products; the Frank Paxton Lumber Company; and Rugby Architectural Building Products brands. HDI also operates one sawmill and kiln drying operation, Hardwoods of Michigan.
“Acquisitions continue to be a key component of our long-term growth strategy, Brown said.
In the past two years, HDI has added more than $150 million in annual sales through acquisitions. Brown said that HDI intends to pursue additional acquisitions that complement the company’s strategy.
HDI is based in Langley, British Columbia, Canada.