CanWel closes Hawaiian acquisition
<p>The Vancouver-based forest products giant has purchased Honsador Building Products.</p>
CanWel Building Materials Group Ltd., the Vancouver-based building and forest products giant, has completed its acquisition of Honsador Building Products: Hawaii’s largest producer of pressure-treated lumber.
Under terms of the $82.3 million deal, Honsador becomes a wholly-owned subsidiary of CanWel. Honsador operates 14 facilities across Hawaii and distributes building materials and electrical supplies, while serving the residential, commercial, and military markets.
"I am very pleased with our ability to identify and close on such a great acquisition based on the strength of the business, and the natural fit which now further strengthens and expands our presence on the west coast of the United States," Amar S. Doman, CanWel chairman and CEO, said in a prepared statement.
CanWel is a distributor of building products across Canada and maintains locations near Los Angeles and San Francisco. The company also owns approximately 136,000 acres of timberlands.
Under terms of the $82.3 million deal, Honsador becomes a wholly-owned subsidiary of CanWel. Honsador operates 14 facilities across Hawaii and distributes building materials and electrical supplies, while serving the residential, commercial, and military markets.
"I am very pleased with our ability to identify and close on such a great acquisition based on the strength of the business, and the natural fit which now further strengthens and expands our presence on the west coast of the United States," Amar S. Doman, CanWel chairman and CEO, said in a prepared statement.
CanWel is a distributor of building products across Canada and maintains locations near Los Angeles and San Francisco. The company also owns approximately 136,000 acres of timberlands.
