Palmer-Donavin acquired Diamond Hill Plywood, a wholesale distributor of building materials with five distribution centers in Virginia, Tennessee, and the Carolinas. Darlington, S.C.-based Diamond Hill Plywood (DHP) was founded in 1945 and is currently managed by John and Jim Ramsey.
“We are pleased to be able to come together as two leading distributors in our industry,” Robyn Pollina, CEO of Palmer-Donavin, said in a news release. “Diamond Hill Plywood and Palmer-Donavin are better together. We can grow more effectively together than as two separate companies. This year, we plan to learn from one another and will work together with a goal of continuing our mission to deliver more to our dealers, partners, and employees.”
Post acquisition, DHP locations will continue to operate under the Diamond Hill Plywood brand name to ensure continuity for customers. DHP employees are now part of the Palmer-Donavin Employee Stock Ownership Plan (ESOP).
“When we look at our opportunities with DHP, we are excited about the new geographical reach and diverse product offering,” Palmer-Donavin COO Matt Butzier said. “Our shared customers and vendors will benefit from the combined product portfolio and wider breadth of offering. We look forward to the exciting opportunities ahead as our two organizations come together.”
Jim Ponzurick, vice president of sales at Diamond Hill Plywood said the partnership with Palmer-Donavin will allow DHP to grow, keep its employees, and continue operating from its five locations.
“The partnership will be seamless as we have the same traditions, values, and hard-working culture,” Ponzurick said. “We are very excited to be working together.”
