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SiteOne Landscape Supply, Inc. (NYSE: SITE) has acquired a majority stake in Devil Mountain Wholesale Nursery, , the largest distributor of landscape trees and plants in California. This strategic move allows SiteOne to expand its product line and geographic reach in the Western US, solidifying its position as a leader in the landscape supply industry. The acquisition marks SiteOne's commitment to growth and customer satisfaction, further enhancing its portfolio and market presence.
SiteOne Landscape Supply, Inc. (NYSE: SITE) ha acquisito una partecipazione di maggioranza in Devil Mountain Wholesale Nursery, il più grande distributore di alberi e piante per il paesaggismo in California. Questa mossa strategica permette a SiteOne di ampliare la propria gamma di prodotti e la portata geografica nel Western US, consolidando la sua posizione di leader nel settore dei fornitori per il paesaggismo. L'acquisizione conferma l'impegno di SiteOne verso la crescita e la soddisfazione del cliente, potenziando ulteriormente il suo portafoglio e la presenza sul mercato.
SiteOne Landscape Supply, Inc. (NYSE: SITE) ha adquirido una participación mayoritaria en Devil Mountain Wholesale Nursery, el mayor distribuidor de árboles y plantas de paisaje en California. Esta movida estratégica permite a SiteOne expandir su línea de productos y su alcance geográfico en el Oeste de los Estados Unidos, consolidando su posición como líder en la industria de suministros de paisajismo. La adquisición subraya el compromiso de SiteOne con el crecimiento y la satisfacción del cliente, mejorando aún más su portfolio y presencia en el mercado.
SiteOne Landscape Supply, Inc.(NYSE: SITE)는 캘리포니아에서 가장 큰 조경 수목 및 식물 유통업체인 Devil Mountain Wholesale Nursery의 과반수 지분을 인수했습니다. 이 전략적인 움직임은 SiteOne이 제품 라인과 미국 서부 지역의 지리적 범위를 확장하는 것을 가능하게 하며, 조경 공급 산업에서의 리더로서 위치를 공고히 합니다. 이 인수는 SiteOne의 성장과 고객 만족에 대한 약속을 나타내며, 그들의 포트폴리오와 시장에서의 입지를 더욱 강화합니다.
SiteOne Landscape Supply, Inc. (NYSE: SITE) a acquis une participation majoritaire dans Devil Mountain Wholesale Nursery, le plus grand distributeur d'arbres et de plantes paysagers en Californie. Ce mouvement stratégique permet à SiteOne d'étendre sa gamme de produits et sa portée géographique dans l'ouest des États-Unis, consolidant sa position de leader dans l'industrie de fourniture de paysage. L'acquisition souligne l'engagement de SiteOne envers la croissance et la satisfaction des clients, renforçant davantage son portefeuille et sa présence sur le marché.
SiteOne Landscape Supply, Inc. (NYSE: SITE) hat die Mehrheitsbeteiligung an Devil Mountain Wholesale Nursery erworben, dem größten Distributor von Landschaftsbäumen und -pflanzen in Kalifornien. Dieser strategische Schritt ermöglicht es SiteOne, sein Produktsortiment und seine geografische Reichweite im Westen der USA zu erweitern und seine Position als Marktführer in der Landschaftsbaubranche zu festigen. Die Übernahme unterstreicht das Engagement von SiteOne für Wachstum und Kundenzufriedenheit und stärkt weiterhin sein Portfolio und seine Marktposition.
Positive
Strategic acquisition of Devil Mountain Wholesale Nursery, strengthens SiteOne's position in the landscape supply industry
Expansion of product line and geographic reach in California and the Western US
Opportunity for future full ownership of Devil Mountain to enhance SiteOne's nursery capability
Strong leadership continuity with Drew McMillan remaining as President of Devil Mountain
Complementing Devil Mountain's full range of nursery products with SiteOne's landscape supplies for customers' one-stop shopping convenience
Negative
None.
Insights
SiteOne Landscape Supply's acquisition of a majority stake in Devil Mountain Wholesale Nursery marks a strategic expansion in the landscape supply sector. This move allows SiteOne to leverage Devil Mountain's extensive distribution network in California, providing a robust platform for growth in the Western US. From a market perspective, investors should note the potential for increased market share and customer base expansion. The move aligns with SiteOne's business model of being a full product line supplier, enhancing their offerings, particularly in the nursery segment. With Devil Mountain's strong presence and SiteOne's national reach, the synergy may lead to operational efficiencies and cost savings over time. As SiteOne has an option to purchase the remaining stake in the future, this could lead to full integration, further solidifying their market position.
The financial implications of SiteOne's acquisition are multifaceted. First, the accretive nature of this transaction could positively impact earnings per share in the medium to long term, assuming integration synergies are fully realized. Moreover, this acquisition should be examined in the context of SiteOne's capital allocation strategy. The option to purchase the remaining interest suggests a staged investment approach, potentially mitigating upfront cash outflow and providing a hedge against integration risks. Investors should watch for changes in SiteOne's financial metrics, such as return on invested capital, in subsequent quarters as a measure of the acquisition's success. It will also be important to assess how this acquisition impacts SiteOne's leverage and cash flow, given the capital-intensive nature of the landscape supply industry.
ROSWELL, Ga.--(BUSINESS WIRE)--
SiteOne Landscape Supply, Inc. (NYSE: SITE) announced today the company has purchased a majority stake in Devil Mountain Wholesale Nursery, LLC (“Devil Mountain”), joining forces with minority owner and CEO Drew McMillan.
Devil Mountain is the largest wholesale distributor of landscape trees and plants in California, with eight wholesale nursery distribution branches and six growing facilities across the state. The transaction includes the option for SiteOne to purchase the remaining interest in Devil Mountain in future years. Drew McMillan will continue to lead Devil Mountain as its President.
“Since Pat Murphy founded Devil Mountain in San Ramon in 1995, he and later Drew have built an outstanding team, network of facilities and reputation as the California market leader in nursery wholesale distribution,” said Doug Black, Chairman and CEO of SiteOne Landscape Supply. “Devil Mountain’s ability to deliver the full range of high-quality nursery products to contractors and projects of all sizes completes our full product line offering for our customers in California and provides us with a terrific platform for Nursery growth in the Western US. We are very excited to welcome Pat, Drew and the talented Devil Mountain team to the SiteOne family and look forward to working together to build our Nursery capability further throughout the western region.”
“Devil Mountain has always sought to be a one stop shop for our customers’ plant and tree needs. SiteOne is the perfect partner to expand our geographic reach and product offerings, while offering excellent long-term growth opportunities for our associates,” said Drew McMillan, CEO of Devil Mountain Wholesale Nursery.
This is the second 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 national full product line 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/
About Devil Mountain Wholesale Nursery:
Devil Mountain Wholesale Nursery is the largest distributor of landscape trees and plants in California, focusing on sales to landscape professionals. Devil Mountain maintains best in class nurseries, conducts a robust brokerage service, and operates six growing facilities for premium trees and plants, including the popular Swan Hill Olives® non-fruiting olive tree. Since 1995, Devil Mountain has been a single source nursery providing trees and plants to commercial and residential landscape companies, landscape architects, municipalities, and major end users. For more information, visit www.devilmountainnursery.com
What is the latest acquisition announced by SiteOne Landscape Supply, Inc. in 2024?
SiteOne has acquired a majority stake in Devil Mountain Wholesale Nursery, , the largest distributor of landscape trees and plants in California.
Who is the CEO of Devil Mountain Wholesale Nursery?
Drew McMillan is the CEO of Devil Mountain Wholesale Nursery.
What is the specialty of Devil Mountain Wholesale Nursery?
Devil Mountain focuses on sales to landscape professionals, providing best in class nurseries and premium trees and plants.
What is SiteOne Landscape Supply's stock symbol?
SiteOne Landscape Supply's stock symbol is SITE.
What is SiteOne Landscape Supply's primary focus?
SiteOne Landscape Supply is the largest national distributor of landscape supplies in the US, serving residential and commercial landscape professionals.
