Campbellsport (Wis.) Building Supply has agreed in principle to acquire Drexel Interiors, a cabinetry and flooring company based in the Milwaukee suburb of Brookfield, Wis., Cambellsport president Joel Fleischman announced Tuesday. The transaction is expected to be completed by Dec. 31, at which point Drexel will become Drexel Inc. and will partner with Campbellsport and its sister lumberyards in Wisconsin, Berlin Building Supply and Kiel Building Supply.
"The talented Drexel team has delivered outstanding service and products for over 50 years, and combining with our 'blue team philosophies' we plan on setting a new standard of excellence," Fleischman said in a news release. "The addition of Drexel significantly enhances our three locations. It is a statement to our resilient customers and team members that we are able to make such an acquisition in what is hopefully the worst economic climate of our lifetime."
All 43 fulltime positions at Drexel have been retained, joining the 84 employees at Campbellsport's three facilities. "Additional jobs and opportunities will be stimulated by this merger," Fleischman said.
Campbellsport joined the ProSales 100 list this year and its Berlin location was the 311th fastest growing company in the nation, according to Inc. magazine.