French building materials firm Saint-Gobain SA said Sept. 15 it has agreed to sell its Hudson, Ohio-based U.S. distribution business, Norandex Building Materials, to ABC Supply Co. of Beloit, Wis., a distributor of roofing and siding products.
Terms were not disclosed. The sale, subject to regulatory approvals, is expected to close in the fourth quarter, Saint-Gobain said in a news release. The deal “is in line with Saint-Gobain Building Distribution's strategy of optimizing its portfolio by divesting non-core assets and focusing on bolstering its leading positions in Europe and Brazil,” the company said.
Norandex has a 103-branch network in 31 states that distributes windows, doors, siding and roofing products. It has 770 employees and generated sales of $393 million in 2014.
ABC Supply said in its own release that the deal is its largest acquisition since the purchase of Bradco Supply in June 2010.
Keith Rozolis, ABC Supply's president and CEO, said in the release that the Norandex acquisition “reinforces our leadership position in the exterior products market and establishes a strong foundation for our next phase of growth.”
ABC Supply was founded by Ken and Diane Hendricks in 1982 and operates more than 500 branches in 49 states and the District of Columbia. The privately held company said it had sales of about $5.3 billion in 2014.