Northern Pacific announces sale
North Pacific, The Portland, Ore.-based distributor of lumber and building materials, has signed a letter of intent to sell its stock to a private equity group. A North Pacific spokesperson would not identify the investment firm, telling Home Channel News, “We’re not releasing who it is.”
The transaction, which is subject to the completion of other agreements and consents, is expected to close in the fourth quarter of 2009.
Founded in 1948, North Pacific is an employee-owned wholesale company that distributes building materials, industrial and hardwood products through a network of 20 distribution centers throughout the United States and overseas. Sales in 2008 reached $1 billion. The company ranked in 6th place in the Home Channel News Top 150 Distributors List.
