The Roberts family, owners of Roberts & Dybdahl (R&D), decided to sell the business to wholesale building products distributor Cedar Creek. Both companies today announced the signing of a letter of intent for Cedar Creek to acquire a majority of R&D’s assets.
R&D, based in Des Moines, Iowa, is a family-owned wholesale distributor of lumber products, post frame buildings, engineered wood products, and roof and floor truss systems in the Midwest. The acquisition will enable Cedar Creek to expand its footprint in the Midwest locations currently served by R&D.
Company president Ted Roberts said that due to ongoing industry change his family decided the time was right to leave the business. He said he and the family were grateful for the support of all their employees that fostered so many outstanding professional relationships throughout the building products distribution supply chain that will be continued by Cedar Creek.
R&D and Cedar Creek expect to continue to
work together to make sure that the transition of the R&D business to Cedar
Creek proceeds smoothly following consummation of the transaction. The closing
of the transaction, which is subject to the execution of a mutually
satisfactory purchase and sale agreement, satisfactory completion of Cedar
Creek’s due diligence and other customary closing conditions, is expected to
occur by June 30.