Core & Main Completes Acquisition of Earthsavers Erosion Control

Rhea-AI Summary

Core & Main, Inc. (NYSE: CNM) has completed its acquisition of Earthsavers Erosion Control, LLC, enhancing its geosynthetics product offerings in northern California. This acquisition brings skilled associates and decades of experience to Core & Main, enabling better customer service and a broader range of products. Earthsavers specializes in erosion control materials and serves markets in California, Nevada, and Arizona. The transaction is expected to strengthen Core & Main's position in the region.

Positive

• Acquisition enhances Core & Main's geosynthetics capabilities in northern California.
• Brings experienced team from Earthsavers, enriching product offerings and customer service.
• Strategic move to expand market presence in California, Nevada, and Arizona.

Negative

• None.

Expands Geosynthetics Footprint

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

“We are excited to grow our geosynthetics capabilities in northern California with the addition of the Earthsavers’ team,” said Steve LeClair, chief executive officer of Core & Main. “With their added expertise in the region, our combined businesses will be positioned to provide enhanced product offerings, while continuing to provide superior customer service.”

Earthsavers Erosion Control is known for its long history of providing customers with quality products and exemplary service. Its skilled team of associates brings decades of collective experience to the company.

“We are pleased to welcome the Earthsavers associates into the Core & Main family,” said Brad Cowles, president, Core & Main. “They share our commitment to providing local expertise and their team offers a breadth and depth of geosynthetic materials and services to their longstanding and loyal customer base.”

Earthsavers Erosion Control was established in 2009 and takes pride in providing its customers top-of-the-line products and service. It produces and distributes a variety of geosynthetic materials, including straw wattles, erosion control blankets and a broad array of geotextile products. Earthsavers Erosion Control operates out of three facilities located in Woodland and Petaluma, California and it primarily serves the California, Nevada and Arizona markets and surrounding areas.

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 more than 300 locations, the company provides its customers 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/20220628005955/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 did Core & Main acquire?

Core & Main acquired substantially all assets of Earthsavers Erosion Control, LLC.

How will the acquisition affect Core & Main's product offerings?

The acquisition will enhance Core & Main's geosynthetics capabilities, providing a broader range of products.

What markets does Earthsavers serve?

Earthsavers serves the California, Nevada, and Arizona markets.

Who is the CEO of Core & Main?

The CEO of Core & Main is Steve LeClair.

What is the stock symbol for Core & Main?

The stock symbol for Core & Main is CNM.