SiteOne Landscape Supply’s Devil Mountain Joint Venture Acquires Pacific Nurseries

Rhea-AI Summary

SiteOne Landscape Supply (NYSE: SITE) announced that its majority-owned joint venture, Devil Mountain Wholesale Nursery, has acquired Pacific Nurseries, a wholesale distributor of nursery products located in Colma, California. This strategic acquisition expands Devil Mountain's presence in the San Francisco Bay area market and represents their first acquisition in 2025.

The acquisition follows SiteOne's purchase of a majority stake in Devil Mountain in April 2024. Devil Mountain is California's largest wholesale distributor of landscape trees and plants, serving landscape professionals through its nurseries, brokerage service, and five growing facilities. The company specializes in premium trees and plants, including their exclusive Swan Hill Olives® non-fruiting olive tree.

Positive

• Strategic expansion in the San Francisco Bay Area market
• Strengthens Devil Mountain's position as California's largest wholesale nursery distributor
• Enhances SiteOne's full-range product offering capability

Negative

• None.

Insights

M&A Specialist

This strategic acquisition strengthens Devil Mountain's position in the lucrative San Francisco Bay Area market. Pacific Nurseries' 28-year presence and established customer relationships provide immediate market penetration. The deal enhances SiteOne's vertical integration strategy following their majority stake acquisition in Devil Mountain in April 2024.

The transaction demonstrates intelligent market consolidation in the fragmented landscape supply industry. Pacific's location in Colma offers vital distribution advantages, reducing logistics costs and improving delivery times to Bay Area customers. This geographical expansion allows Devil Mountain to capture larger market share while achieving operational synergies.

For SITE shareholders, this bolt-on acquisition represents careful execution of the company's growth-through-acquisition strategy. The deal structure through the Devil Mountain joint venture helps optimize capital allocation while maintaining operational flexibility. The nursery segment typically carries higher margins than traditional hardscape products, suggesting positive impact on the combined entity's profitability metrics.

Industry Analyst

The landscape supply sector is experiencing strategic consolidation and this acquisition perfectly illustrates the trend. By absorbing Pacific Nurseries into Devil Mountain's operations, SiteOne strengthens its competitive moat in California's premium nursery market. The San Francisco Bay Area represents one of the country's most affluent landscaping markets, with high-value commercial and residential projects.

The integration of Pacific's operations under the Devil Mountain brand should yield several operational benefits:

• Enhanced purchasing power with suppliers
• Optimized inventory management across locations
• Expanded product selection for existing customers
• Improved market coverage in the Bay Area

This acquisition, being the first of 2025, signals SiteOne's continued commitment to strategic growth through the Devil Mountain platform, suggesting more deals may follow as the company seeks to dominate the California market.

ROSWELL, Ga.--(BUSINESS WIRE)-- SiteOne® Landscape Supply, Inc. (NYSE: SITE) announced today that its majority-owned joint venture, Devil Mountain Wholesale Nursery, has acquired Pacific Nurseries, a wholesale distributor of nursery products with one location in Colma, California, part of the San Francisco Bay area market.

“With this addition, Devil Mountain President Drew McMillan continues to execute on the company’s growth strategy,” said Doug Black, Chairman and CEO of SiteOne Landscape Supply. “The acquisition of Pacific adds a strategically located site in the Bay Area to better serve our combined customers, as we work to offer the full range of landscape products and services to our customers across the U.S. and Canada.”

“The Baldocchi family have created and maintained a wonderful nursery that has served our industry for 28 years,” said Drew McMillan, President of Devil Mountain Wholesale Nursery. “We look forward to continuing their legacy of quality, service and dedication to their employees while we merge our teams under the Devil Mountain brand.”

This is the first acquisition in 2025 for Devil Mountain, of which SiteOne purchased a majority stake in April 2024.

About Devil Mountain Wholesale Nursery:

Devil Mountain Wholesale Nursery is the largest wholesale 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 five 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 plants to commercial and residential landscape companies, landscape architects, municipalities, and major end users. For more information, visit www.devilmountainnursery.com.

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/20241231483406/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 significance of SITE's Devil Mountain acquisition of Pacific Nurseries in 2025?

The acquisition strategically expands Devil Mountain's presence in the San Francisco Bay Area market, enhancing SiteOne's distribution network and ability to serve customers with a full range of landscape products.

When did SiteOne (SITE) acquire its majority stake in Devil Mountain Wholesale Nursery?

SiteOne acquired a majority stake in Devil Mountain Wholesale Nursery in April 2024.

What is Devil Mountain's market position in California's landscape supply industry?

Devil Mountain is the largest wholesale distributor of landscape trees and plants in California, operating five growing facilities and serving landscape professionals through nurseries and brokerage services.

How many locations does Pacific Nurseries add to Devil Mountain's operations?

Pacific Nurseries adds one location in Colma, California, in the San Francisco Bay area market.