Core & Main Signs Agreement to Acquire Landscape & Construction Supplies LLC

Rhea-AI Summary

Core & Main Inc. (NYSE: CNM), a leading distributor of water and wastewater products, has announced a definitive agreement to acquire substantially all assets of Landscape & Construction Supplies LLC, a geosynthetics provider with two locations in the Chicago area. This acquisition enhances Core & Main's capabilities in delivering superior geosynthetics and erosion control products across more than 15 states. The CEO emphasized the strategic importance of this addition, which aims to expand product offerings and improve customer service. The acquisition aligns with Core & Main’s goal of fostering sustainable infrastructure and improving community services.

Positive

• Expansion of product offerings through the acquisition of Landscape & Construction Supplies.
• Enhancement of service capabilities in geosynthetics and erosion control products.
• Access to a well-established operation serving customers in over 15 states.

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 Landscape & Construction Supplies LLC, a full-service provider of geosynthetics products, with two locations in the Chicago metropolitan area.

“Landscape & Construction Supplies has been a trusted name in the geosynthetics space for nearly 20 years. Having them as part of Core & Main will enhance our ability to provide customers with superior products and timely service,” said Steve LeClair, chief executive officer of Core & Main.

Since opening in 2004, Landscape & Construction Supplies built a reputation for being a quality producer of silt fence and a reliable supplier of geosynthetics, erosion control products and drainage materials. They serve customers in more than 15 states with quality services and products.

“Landscape & Construction Supplies is an exceptional geosynthetics company with a well-developed production operation,” said Brad Cowles, president of Core & Main. "This acquisition is a great addition to our existing business, and we look forward to welcoming the team to the Core & Main family."

“For close to two decades, Landscape & Construction Supplies proudly grew its business delivering erosion and sediment control products to communities across the United States,” said Daniel Yendro, owner of Landscape & Construction Supplies. “It will be exciting to continue to grow with Core & Main knowing the abundant opportunities that will be created. We look forward to expanding our reach and offering new products and services to our valued customers.”

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/20230213005582/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 Landscape & Construction Supplies?

The acquisition aims to expand Core & Main's product offerings in geosynthetics and improve service capabilities.

When was the acquisition of Landscape & Construction Supplies announced by Core & Main?

The acquisition was announced on February 13, 2023.

How does the acquisition impact Core & Main's operations?

The acquisition enhances Core & Main's capacity to deliver superior erosion control products and broaden its reach in the market.

What does Landscape & Construction Supplies specialize in?

Landscape & Construction Supplies specializes in geosynthetics, erosion control products, and drainage materials.

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

Expected benefits include improved customer service, expanded product offerings, and access to a well-regarded supplier network.