{"id":779651,"date":"2023-08-23T11:11:58","date_gmt":"2023-08-23T15:11:58","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/boise-cascade-reaches-agreement-to-purchase-brockway-smith-company\/"},"modified":"2023-08-23T11:11:58","modified_gmt":"2023-08-23T15:11:58","slug":"boise-cascade-reaches-agreement-to-purchase-brockway-smith-company","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/boise-cascade-reaches-agreement-to-purchase-brockway-smith-company\/","title":{"rendered":"Boise Cascade Reaches Agreement to Purchase Brockway-Smith Company"},"content":{"rendered":"

<\/p>\n

Boise Cascade Reaches Agreement to Purchase Brockway-Smith Company<\/b><\/p>\n

BOISE, Idaho–(BUSINESS WIRE<\/a>)–
\nBoise Cascade Company (Boise Cascade) (NYSE: BCC) announced today that it has reached an agreement to purchase Brockway-Smith Company (BROSCO\u00ae<\/sup>), a leading wholesale distributor specializing in doors and millwork. The purchase price for BROSCO, including the acquisition of its two full-scale distribution centers, is $172 million, subject to certain closing adjustments. Boise Cascade plans to fund the transaction and closing-related expenses from its existing cash balances.<\/p>\n

\nBROSCO is a fifth-generation, family-owned company founded in 1890. It operates distribution centers in Hatfield, MA and Portland, ME. In addition to interior and exterior doors, BROSCO\u2019s offerings also include mouldings, railings, windows, stair parts, and composite products.<\/p>\n

\nBoise Cascade currently operates 10 millwork locations in some of the nation\u2019s fastest-growing markets, specializing in exterior and interior doors, frames, hardware, and pre-finishing options.<\/p>\n

\n\u201cBROSCO is a long-standing industry leader in the Northeast region known for high-capacity manufacturing, quality artisanship, and a loyal customer base,\u201d said Jeff Strom, Executive Vice President, Building Materials Distribution. \u201cThis acquisition furthers our strategy to expand our millwork business. We are excited to bring this outstanding team on board.\u201d<\/p>\n

\n\u201cBoise Cascade provides BROSCO a unique and exciting opportunity to join a company that is very similar in culture and commitment to customers and associates,\u201d said Charlie Smith, President & CEO of BROSCO. \u201cBoise Cascade is a large and successful organization that will allow all our customers the ability to continue to enjoy the outstanding BROSCO products and service that have been the standard of the Northeast millwork market for over 130 years.\u201d<\/p>\n

\nClosing of the transaction is expected to be complete in early fourth quarter of 2023, subject to customary closing conditions, including receipt of antitrust approval under the Hart-Scott-Rodino Act of 1976.<\/p>\n

\nBoise Cascade was advised by Wells Fargo Securities, LLC, as financial advisor, and Perkins Coie LLP, as outside legal counsel, in the transaction.<\/p>\n

About Boise Cascade<\/b><\/p>\n

\nBoise Cascade is one of the largest producers of engineered wood products and plywood in North America and a leading U.S. wholesale distributor of building products. For more information, please visit our website at www.bc.com<\/a><\/span>.<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nStatements in this news release that are not purely historical facts or that necessarily depend on future events, including statements about the expected closing date of the transaction or other statements about anticipations, beliefs, expectations, intentions or strategies for the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, oral statements made by our directors, officers and employees to the investor and analyst communities, media representatives and others, depending upon their nature, may also constitute forward-looking statements. As with the forward-looking statements included in this release, these forward-looking statements are by nature inherently uncertain, and actual results may differ materially as a result of many factors. All forward-looking statements are based upon information available to Boise Cascade on the date this release was submitted. Boise Cascade undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks related to the Company\u2019s ability to close the transaction, including satisfaction of required regulatory approvals, the integration of the acquired assets, the Company\u2019s growth strategies, or the Company\u2019s revenues and operating results being highly dependent on, among other things, new residential construction, commodity wood products prices and the economy. Boise Cascade may not succeed in addressing these and other risks. Further information regarding factors that could affect our financial and other results can be found in the risk factors section of Boise Cascade\u2019s most recent annual report on Form 10-K filed with the Securities and Exchange Commission (the \u201cSEC\u201d) and in the other reports filed by the Company with the SEC. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230823674179\/en\/<\/a><\/span><\/p>\n

Media Contact
\n<\/b>
Lisa Tschampl
\n
208-384-6552
\n
mediarelations@bc.com<\/a><\/p>\n

Investor Contact
\n<\/b>
Kelly Hibbs
\n
208-384-3638<\/p>\n

KEYWORDS:<\/b> Idaho United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Architecture Commercial Building & Real Estate Construction & Property Natural Resources Other Natural Resources Interior Design Forest Products Residential Building & Real Estate<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
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Boise Cascade Reaches Agreement to Purchase Brockway-Smith Company BOISE, Idaho–(BUSINESS WIRE)– Boise Cascade Company (Boise Cascade) (NYSE: BCC) announced today that it has reached an agreement to purchase Brockway-Smith Company (BROSCO\u00ae), a leading wholesale distributor specializing in doors and millwork. The purchase price for BROSCO, including the acquisition of its two full-scale distribution centers, is $172 million, subject to certain closing adjustments. Boise Cascade plans to fund the transaction and closing-related expenses from its existing cash balances. BROSCO is a fifth-generation, family-owned company founded in 1890. It operates distribution centers in Hatfield, MA and Portland, ME. In addition to interior and exterior doors, BROSCO\u2019s offerings also include mouldings, railings, windows, stair parts, and composite products. Boise Cascade currently operates 10 … <\/p>\n

Continue reading “Boise Cascade Reaches Agreement to Purchase Brockway-Smith Company”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-779651","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nBoise Cascade Reaches Agreement to Purchase Brockway-Smith Company - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/boise-cascade-reaches-agreement-to-purchase-brockway-smith-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boise Cascade Reaches Agreement to Purchase Brockway-Smith Company - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Boise Cascade Reaches Agreement to Purchase Brockway-Smith Company BOISE, Idaho–(BUSINESS WIRE)– Boise Cascade Company (Boise Cascade) (NYSE: BCC) announced today that it has reached an agreement to purchase Brockway-Smith Company (BROSCO\u00ae), a leading wholesale distributor specializing in doors and millwork. The purchase price for BROSCO, including the acquisition of its two full-scale distribution centers, is $172 million, subject to certain closing adjustments. Boise Cascade plans to fund the transaction and closing-related expenses from its existing cash balances. BROSCO is a fifth-generation, family-owned company founded in 1890. It operates distribution centers in Hatfield, MA and Portland, ME. In addition to interior and exterior doors, BROSCO\u2019s offerings also include mouldings, railings, windows, stair parts, and composite products. 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