Canada GMS Inc. Announces the Acquisition of Home Lumber and Building Supplies
TORONTO, May 2, 2023 /CNW/ - GMS Inc. (NYSE: GMS), a leading North American specialty building products distributor and parent company to Canada GMS, Inc. ("GMS Canada"), today announced that it has completed the acquisition of Jawl Lumber Corporation, which provides service to the Vancouver Island market under the Home Lumber and Building Supplies ("Home Lumber") brand name.
"We are excited to have Home Lumber & Building Supplies join GMS Canada and our group of strong, in-market branded companies," said Paul Green, President of GMS Canada. "The Jawl Family has built a business that is aligned with our values, and a team that has served the building industry on Vancouver Island for decades. The legacy of high-integrity service they have provided will be carried on as we support the Home Lumber team. The future for Home Lumber is exciting as we begin this next chapter 'Powered by GMS'."
"Since our founding in 1960, we have been proud to serve customers in Greater Victoria and across Vancouver Island with integrity. We sincerely thank our valued customers, suppliers and employees for their support and loyalty over the years," said Karnel Jawl, President of Home Lumber. "We are excited for the Home Lumber team to join forces with GMS, a family of companies that shares our values and will help take Home Lumber to its next phase of growth."
Jawl Lumber Corporation, d/b/a Home Lumber & Building Supplies; Acquired May 1, 2023
Established in 1960 by the Jawl family, Home Lumber and Building Supplies is one of Vancouver Island's oldest and most respected suppliers of lumber, engineered wood, doors and framing packages, siding and other related building materials. Like GMS, the Company is committed to providing outstanding service to its customers. Home Lumber operates from a single location in Victoria, Canada.
About GMS:
Founded in 1971, GMS operates a network of approximately 300 distribution centers with extensive product offerings of Wallboard, Ceilings, Steel Framing and Complementary Products. In addition, GMS operates approximately 100 tool sales, rental and service centers, providing a comprehensive selection of building products and solutions for its residential and commercial contractor customer base across the United States and Canada. The Company's unique operating model combines the benefits of a national platform and strategy with a local go-to-market focus, enabling GMS to generate significant economies of scale while maintaining high levels of customer service.
For more information about GMS, please visit www.gms.com.
Forward–Looking Statements and Information:
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify forward-looking statements by our use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "seek," or "should," or the negative thereof or other variations thereon or comparable terminology. We have based these forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates, and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. Forward-looking statements involve risks and uncertainties, including those factors described in the "Risk Factors" section in our filings with the SEC. We undertake no obligation to update any of the forward-looking statements made herein, whether as a result of new information, future events, changes in expectation or otherwise.
SOURCE GMS
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2023/02/c2332.html
