Foxworth-Galbraith, the 22nd-biggest dealer on the ProSales 100, announced today it is acquiring Roswell Lumber's Builders Stores of New Mexico division. The transaction basically brings the Builders Do it Center store in Roswell, N.M., into the FoxGal family. The center generates about $6 million in annual revenue.
"The home improvement center will significantly extend our reach into key southeast New Mexico communities," including Roswell, Hobbs, Artesia, Carlsbad, and Lovington, Foxworth-Galbraith said in its announcement. It also said the deal helps four strategic company objectives: growing new business; growing home center operation earnings; increasing roofing revenue; and increasing drywall revenue.
"We share the same business philosophy where integrity, family values, great associates and a commitment to providing a superior customer experience are the key to winning customer loyalty," FoxGal added. The new store will carry the Foxworth-Galbraith name and will be operated as a satellite of the company's facility in Ruidoso, N.M. Roughly 20 current employees will be hired.
Based in Plano, Texas, FoxGal currently has 28 branches. It generated $319.2 million in sales in 2016, roughly 80% of it to pros.
