ABC Supply to acquire Bradco
In a blockbuster deal announced today, Avenel, N.J.-based Bradco Supply signed a definitive agreement to be acquired by ABC Supply.
The transaction will create a national distributor of exterior building materials with 479 locations in 45 states and the District of Columbia. Combined sales of the new entity will be about $4 billion.
The acquisition is expected to close by the end of June, the company announced, after receiving regulatory approvals. Until the close of the transaction, Bradco branches will operate independently of ABC.
"This is an exciting time for all Bradco constituents: our customers, our vendors and especially our employees," said Larry Stoddard, Bradco's CEO. "The combination with ABC will create an even stronger company with exciting growth prospects and a continued focus on customer service."
"The addition of Bradco is consistent with our mission to be the best distributor of exterior building products and one of the very best places to work in America," said David Luck, ABC Supply's president and CEO. "We will welcome the addition of Bradco into the ABC family and look forward to the opportunities that this acquisition will create for our associates and the enhanced value it brings to our customers."
