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LBM Advantage and Independent Builders Supply Association (IBSA) have signed a letter of intent to merge, LBM Advantage announced this morning in a press release. The letter of intent is non-binding and must be approved by shareholders of both cooperatives.

"For 40 years, IBSA has built a strong reputation for service and value for its members; I am excited to partner with such a respected and experience organization," Steve Sallah, LBM Advantage's president and CEO, stated in the release.

Tim Johnson, IBSA's president, stated: "The merger is a great fit and will improve the competitive posture of all our dealers. Our regions complement each other and the ability to execute National Buying Power with regional expertise will provide our dealers with enhanced competitive advantages while maintaining regional skills and market insights."

According to the release, combined membership will cover 34 states, 585 members, and over 1,000 yards. Should the merger be approved, IBSA will adopt LBM Advantage's name. The merged company will have four locations: New Windsor, N.Y.; Grand Rapids, Mich.; Smithfield, N.C.; and Monroe, La. Sallah will remain president and CEO of the company; Johnson will become vice president.