OakStreet Wholesale Nursery Joins SiteOne Landscape Supply

Rhea-AI Summary

SiteOne Landscape Supply (NYSE: SITE) has announced the acquisition of OakStreet Wholesale Nursery, a wholesale distributor of nursery products located in Fairview, Texas. This strategic move establishes SiteOne as the nursery leader in the Dallas market. OakStreet, known for high-quality products and exceptional customer service in North Texas, represents SiteOne's sixth acquisition in 2024. The acquisition aligns with SiteOne's strategy to expand its full range of landscape supplies and services across different markets. SiteOne continues to strengthen its position as the largest and only full product line national wholesale distributor of landscape supplies in the United States.

Positive

• Strengthens market leadership position in Dallas
• Sixth acquisition in 2024, showing strong expansion momentum
• Adds established customer base and experienced management team
• Expands presence in strategic Dallas-Fort Worth market

Negative

• None.

Insights

Financial Analyst

This strategic acquisition strengthens SiteOne's market position in the important Dallas-Fort Worth region, marking their sixth acquisition in 2024. The deal aligns with SiteOne's expansion strategy to offer comprehensive landscape supplies across markets. OakStreet's strong local presence and reputation for quality products in North Texas complement SiteOne's existing operations. With a $6.4B market cap, SiteOne continues to demonstrate aggressive growth through acquisitions. The wholesale nursery segment particularly benefits from robust demand in commercial and residential landscaping sectors. While financial terms weren't disclosed, this acquisition should enhance SiteOne's regional revenue and market share, potentially driving operational synergies in the Dallas market.

Market Research Analyst

The Dallas-Fort Worth market represents a significant opportunity in the landscape supply industry due to its rapid urban development and strong construction activity. OakStreet's strategic location in Fairview positions SiteOne to capitalize on the region's growth. The acquisition demonstrates SiteOne's commitment to vertical integration and market consolidation, particularly in the nursery product segment. The deal strengthens their competitive advantage by adding specialized nursery expertise and established customer relationships. This move could potentially create barriers to entry for competitors while enhancing SiteOne's ability to serve landscape professionals more comprehensively in one of America's fastest-growing metropolitan areas.

ROSWELL, Ga.--(BUSINESS WIRE)-- SiteOne Landscape Supply, Inc. (NYSE: SITE) announced today its acquisition of OakStreet Wholesale Nursery (“OakStreet”), a wholesale distributor of nursery products with one location in Fairview, Texas, a suburb within the Dallas-Fort Worth market.

“This addition positions SiteOne as the nursery leader in the Dallas market,” said Doug Black, Chairman and CEO of SiteOne Landscape Supply. “OakStreet is a tremendous wholesale nursery distributor with a strong and experienced management team and a history of excellent market growth. We are excited to welcome the OakStreet team and customers to the SiteOne family.”

“We’ve built a reputation of having the highest quality products and exceptional customer service in the North Texas market, thanks to our dedicated team members and loyal customers,” said Mike Fritchie, OakStreet co-owner. “Joining SiteOne is a natural fit based on our shared values.”

“We’re excited for the wealth of advantages and new growth opportunities that will be offered to our employees and customers by joining SiteOne,” said Lance Martin, OakStreet co-owner.

This is the sixth acquisition in 2024 for SiteOne as the company continues to expand the number of markets in which it offers the full range of landscape supplies and services to landscape professionals.

About SiteOne Landscape Supply:

SiteOne Landscape Supply (NYSE: SITE), is the largest and only full product line national wholesale distributor of landscape supplies in the United States and has a growing presence in Canada. Its customers are primarily residential and commercial landscape professionals who specialize in the design, installation and maintenance of lawns, gardens, golf courses and other outdoor spaces. https://www.siteone.com/

View source version on businesswire.com: https://www.businesswire.com/news/home/20241216311193/en/

Investor Relations:

SiteOne Landscape Supply, Inc.

470-270-7011

investors@siteone.com

or

Media:

SiteOne Landscape Supply, Inc.

Erin Edstrom 404-395-5357

Senior Director, Integrated Marketing & Events

EEdstrom@siteone.com

Source: SiteOne Landscape Supply, Inc.

FAQ

What is the strategic importance of SiteOne's OakStreet acquisition in 2024?

The acquisition positions SiteOne (NYSE: SITE) as the nursery leader in the Dallas market and strengthens its presence in the Dallas-Fort Worth area through OakStreet's established location in Fairview, Texas.

How many acquisitions has SiteOne (SITE) completed in 2024?

OakStreet Wholesale Nursery represents SiteOne's sixth acquisition in 2024, demonstrating the company's active expansion strategy.

What market position does SiteOne (SITE) hold in the US landscape supply industry?

SiteOne is the largest and only full product line national wholesale distributor of landscape supplies in the United States, with a growing presence in Canada.

What are OakStreet's main strengths that attracted SiteOne's acquisition?

OakStreet attracted SiteOne due to its strong and experienced management team, history of excellent market growth, high-quality products, and exceptional customer service in the North Texas market.