Boise Cascade reached an agreement to purchase Brockway-Smith Company (BROSCO), a leading wholesale distributor specializing in doors and millwork. The purchase price, which includes the acquisition of BROSCO’s two full-scale distribution centers, is $172 million. Boise Cascade said it plans to fund the transaction and closing-related expenses from its existing cash balances.
“BROSCO is a long-standing industry leader in the Northeast region known for high-capacity manufacturing, quality artisanship, and a loyal customer base,” Jeff Strom, executive vice president of building materials distribution at Boise Cascade, said in a news release. “This acquisition furthers our strategy to expand our millwork business. We are excited to bring this outstanding team on board.”
BROSCO is a fifth-generation, family-owned company that operates distribution centers in Hatfield, Mass., and Portland, Maine. In addition to interior and exterior doors, BROSCO’s offerings include moldings, railings, windows, stair parts, and composite products.
“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,” Charlie Smith, president and CEO of BROSCO, said. “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.”
Boise Cascade, a producer of engineered wood products and plywood, operates 10 millwork locations, specializing in exterior and interior doors, frames, hardware, and pre-finishing options. The company is also a wholesale distributor of building products.
The closing of the acquisition is expected to be complete in the early fourth quarter of 2023, subject to customary closing conditions, including receipt of antitrust approval under the Hart-Scott-Rodino Act of 1976.