Core & Main Signs Agreement to Acquire Earthsavers Erosion Control

Rhea-AI Summary

Core & Main (NYSE: CNM) announced its acquisition of Earthsavers Erosion Control, LLC, a geosynthetics products provider in northern California. This strategic acquisition aims to enhance Core & Main's erosion control expertise and expand its services across the western U.S. Earthsavers, established in 2009, offers high-quality erosion control products from its facilities in Woodland and Petaluma. The acquisition is expected to strengthen Core & Main's market presence and support its commitment to serving customers effectively.

Positive

• Acquisition of Earthsavers Erosion Control enhances Core & Main's erosion control capabilities.
• Expansion into the western U.S. market is expected to increase customer base and sales.
• Earthsavers has a loyal customer base and strong market presence, likely translating to immediate revenue benefits.

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 entered into a definitive agreement to acquire substantially all of the assets of Earthsavers Erosion Control, LLC, a full-service provider of geosynthetics products, based in northern California.

“Earthsavers Erosion Control has a strong presence in their market and a loyal customer base that asks for their products by name. This strategic acquisition will provide additional capacity and will allow us to enhance Core & Main’s erosion control expertise to further serve our customers throughout the western region of the U.S.,” said Steve LeClair, chief executive officer of Core & Main.

“We admire Earthsavers Erosion Control’s dedication to providing their customers with high quality erosion control products,” said Brad Cowles, president, Core & Main. “They have firmly established themselves as a trusted and reliable partner within their community due to their expertise and first-class service.”

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.

“For over a decade, Earthsavers Erosion Control has been a leading and preferred erosion control resource,” said Doug Bailey, owner of Earthsavers Erosion Control. “By combining forces with Core & Main we will be able to expand our services and continue to be the trusted partner our customers know us to be. We are excited to start this new chapter with Core & Main.”

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 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/20220607006283/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 purpose of Core & Main's acquisition of Earthsavers Erosion Control?

The acquisition aims to enhance Core & Main's erosion control expertise and expand services across the western U.S.

What products does Earthsavers Erosion Control provide?

Earthsavers provides various geosynthetics products, including straw wattles and erosion control blankets.

When was Earthsavers Erosion Control established?

Earthsavers Erosion Control was established in 2009.

How will this acquisition impact Core & Main's market strategy?

The acquisition is expected to strengthen Core & Main's market presence and enhance its service offerings to customers.

Where are Earthsavers Erosion Control's facilities located?

Earthsavers operates out of three facilities in Woodland and Petaluma, California.