Boise Cascade Company recently announced that it has agreed to purchase Brockway-Smith Company (BROSCO), a leading wholesale distributor specializing in doors and millwork. The purchase price for BROSCO, including acquiring its two full-scale distribution centers, is $172 million, subject to certain closing adjustments. Boise Cascade plans to fund the transaction and closing-related expenses from its existing cash balances.
BROSCO is a fifth-generation family-owned company founded in 1890. And it operates distribution centers in Hatfield, MA, and Portland, ME. Besides interior and exterior doors, BROSCO’s offerings include moldings, railings, windows, stair parts, and composite products.
Boise Cascade operates ten millwork locations in some of the nation’s fastest-growing markets, specializing in exterior and interior doors, frames, hardware, and pre-finishing options.
The transaction’s closing is expected to be complete in the early fourth quarter of 2023, subject to customary closing conditions.
KEY QUOTES:
“BROSCO is a long-standing industry leader in the Northeast region known for high-capacity manufacturing, quality artisanship, and a loyal customer base. This acquisition furthers our strategy to expand our millwork business. We are excited to bring this outstanding team on board.”
— Jeff Strom, Executive Vice President, Building Materials Distribution
“Boise Cascade provides BROSCO a unique and exciting opportunity to join a company that is very similar in culture and commitment to customers and associates. Boise Cascade is a large and successful organization that will allow all our customers the ability to continue to enjoy the outstanding BROSCO products and service that have been the standard of the Northeast millwork market for over 130 years.”
— Charlie Smith, President & CEO of BROSCO
