Core & Main Signs Agreement to Acquire Distributors, Inc.

Rhea-AI Summary

Core & Main, Inc. (NYSE: CNM) has announced a definitive agreement to acquire the assets of Distributors, Inc., a Hawaii-based distributor of fire protection products. This strategic acquisition aims to enhance Core & Main's position in the fire protection services market by leveraging Distributors, Inc.'s established reputation and extensive expertise. The merger is expected to add value for both companies' customers, further solidifying Core & Main's commitment to delivering quality services across its operational areas.

Positive

• Acquisition of Distributors, Inc. expected to strengthen Core & Main's foothold in fire protection services.
• Synergies from the merger anticipated to enhance customer value and service offerings.
• Distributors, Inc. has a strong reputation and established customer base in Hawaii.

Negative

• None.

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 entered into a definitive agreement to acquire substantially all of the assets of Distributors, Inc., a full-service distributor of fire protection products, based in Hawaii.

“By consistently meeting and exceeding customer expectations, Distributors, Inc. has established itself as a leader in fire protection services in Hawaii. The extensive knowledge and experience of our combined resources strengthen this position, and this strategic acquisition enables us to continue adding value to their customers,” said Steve LeClair, chief executive officer of Core & Main.

“Distributors, Inc. is a trusted player in fire protection with a stellar reputation,” said Brad Cowles, president of Core & Main. “Their partnership approach to working with customers makes them a good fit for us. I look forward to working with them and continuing our growth together.”

Established in 2018, Distributors, Inc. 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. Its facility is located in Honolulu, Hawaii.

“Distributors, Inc. is proud of having an exceptional reputation for producing results for our customers. Our team is successful because of our service, quality products and extensive expertise,” said Tyler Nekoba, president of Distributors, Inc. “Core & Main takes a like-minded approach. Their dedication to integrity, community and family-oriented culture aligns well with ours. We are excited to join 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/20220920006227/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 announce regarding Distributors, Inc.?

Core & Main announced a definitive agreement to acquire substantially all assets of Distributors, Inc., enhancing its fire protection services.

When was the acquisition of Distributors, Inc. announced by Core & Main?

The acquisition was announced in a press release dated September 20, 2022.

What is the strategic importance of acquiring Distributors, Inc. for Core & Main?

The acquisition will strengthen Core & Main's market position in fire protection services and provide added value to customers.

How will the acquisition impact Core & Main's growth?

The acquisition is expected to enhance Core & Main's growth by leveraging Distributors, Inc.'s expertise and customer relationships in Hawaii.

What products and services does Distributors, Inc. provide?

Distributors, Inc. provides fire protection products and fabrication services for new systems and maintenance of existing systems.