Core & Main Completes Acquisition of Lanier Municipal Supply Co. Inc.

Rhea-AI Summary

Core & Main (NYSE: CNM) has successfully acquired the assets of Lanier Municipal Supply Co., enhancing its presence in the Southeast waterworks market. This acquisition leverages Lanier's four decades of expertise, significantly boosting Core & Main's capabilities in delivering water, wastewater, storm drainage, and irrigation products. CEO Steve LeClair emphasized the strategic importance of this move for improving customer service and expanding market reach, while the integration of Lanier is projected to strengthen operational efficiency and customer relationships.

Positive

• Acquisition of Lanier Municipal Supply enhances CNM's Southeast waterworks presence.
• Lanier's expertise and regional knowledge strengthens customer service delivery.
• Potential for revenue growth through expanded market reach.

Negative

• None.

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 Lanier Municipal Supply Co. Inc., a full-service distributor of water, wastewater, storm drainage, agricultural and irrigation products, headquartered in Lakeland, Georgia.

“We are excited to expand our waterworks presence in the Southeast through the acquisition of Lanier Municipal Supply,” said Steve LeClair, chief executive officer of Core & Main. “The team brings a tremendous level of expertise and regional knowledge that will strengthen our ability to continue delivering unmatched service to our customers.”

Since its founding in 1978, Lanier Municipal Supply has consistently delivered the highest quality service and value to customers through its facilities in Lakeland and Savannah, Georgia, and Panama City and Lake City, Florida. Its local approach to business, family values and strong relationships have kept customers returning through the years.

“Lanier Municipal Supply is a fantastic company that has proudly served the waterworks industry for over four decades,” said Jack Schaller, president of Core & Main. “Their industry knowledge, dedication to their customers and family-like culture have established them as a strong regional waterworks distributor. We are thrilled to start this new chapter with them as part of the Core & Main family."

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/20221205005806/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 significance of Core & Main's acquisition of Lanier Municipal Supply?

The acquisition significantly strengthens Core & Main's presence in the Southeast waterworks market and enhances its service capabilities.

How does the acquisition of Lanier Municipal Supply impact CNM's operations?

It is expected to improve operational efficiency and customer relationships due to Lanier's regional expertise.

When was the acquisition of Lanier Municipal Supply completed?

The acquisition was completed on December 5, 2022.

What products does Core & Main distribute?

Core & Main distributes water, wastewater, storm drainage, and fire protection products, along with related services.

How many locations does Core & Main operate?

Core & Main operates approximately 300 locations nationwide.