Core & Main Completes Acquisition of Distributors, Inc.

Rhea-AI Summary

Core & Main (NYSE: CNM) has finalized its acquisition of substantially all assets of Distributors, Inc., a leading distributor of fire protection products based in Hawaii. This strategic move aims to expand Core & Main's presence in the fire protection market. Leadership highlighted the importance of Distributors, Inc.’s local expertise and strong reputation, which will enhance customer service and product delivery across Hawaii. The acquisition is anticipated to strengthen operational capabilities and broaden Core & Main’s market reach.

Positive

• Acquisition enhances Core & Main's footprint in Hawaii, expanding its fire protection offerings.
• Distributors, Inc. brings local expertise and a strong reputation, improving service delivery.

Negative

• None.

Expands Fire Protection Footprint

ST. LOUIS--(BUSINESS WIRE)-- Core & Main, Inc. (NYSE: CNM), a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, has closed its previously announced acquisition of substantially all of the assets of Distributors, Inc., a full-service distributor of fire protection products based in Hawaii.

“We are excited to be expanding our fire protection footprint in Hawaii with the acquisition of Distributors, Inc.,” said Steve LeClair, chief executive officer of Core & Main. “This team brings a depth of experience and enthusiasm that sets them apart from the competition, and we are happy to welcome them into the Core & Main family.”

“Distributors, Inc. has built its strong reputation in the fire protection industry based on trust and unbeatable performance,” said Brad Cowles, president of Core & Main. “Their talented team and local expertise will enhance our ability to deliver exceptional service throughout Hawaii, while providing safe and reliable products to all of our customers.”

Distributors, Inc. operates out of its facility in Honolulu, Hawaii. The company provides fire protection contractors throughout Hawaii with quality products and fabrication services for new fire protection systems and the maintenance and repair of existing systems.

About Core & Main

Based in St. Louis, Core & Main is a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets nationwide. With approximately 300 locations, the company provides its customers with local expertise backed by a national supply chain. Core & Main’s 4,100 associates are committed to helping their communities thrive with safe and sustainable infrastructure. Visit coreandmain.com to learn more.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this press release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Core & Main’s financial and operating outlook, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.

Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221010005745/en/

Investor Relations:

Robyn Bradbury, 314-995-9116

InvestorRelations@CoreandMain.com

Media Relations:

Jennifer Noonan, 314-750-9670

Jennifer.Noonan@CoreandMain.com

Source: Core & Main, Inc.

FAQ

What is the latest acquisition by Core & Main (CNM)?

Core & Main has acquired substantially all assets of Distributors, Inc., expanding its fire protection product distribution in Hawaii.

How does the acquisition of Distributors, Inc. impact Core & Main's operations?

The acquisition allows Core & Main to enhance its service delivery and operational capabilities within the fire protection sector in Hawaii.

What are the expected benefits of the acquisition for Core & Main (CNM)?

The acquisition is expected to strengthen Core & Main's market presence and improve customer service through Distributors, Inc.'s local expertise.