Vancouver, British Columbia--(Newsfile Corp. - March 27, 2025) - BuildDirect.com Technologies Inc. (TSXV: BILD) ("BuildDirect" or the "Company"), a leading omnichannel building materials retailer, is pleased to announce that it has acquired substantially all of the operational assets of Anchor Flooring and Supply Company LLC ("Anchor") and Yorkshore Sales and Marketing Inc. ("Yorkshore"), well-established flooring distributors based in Orlando, Florida for US$593,000. Anchor and Yorkshore are entities held by common ownership.
This acquisition marks a strategic step forward in BuildDirect's plan to expand its Pro Center network across North America, enhancing its reach and ability to serve the professional contractor market in key U.S. regions.
"Acquiring Anchor's and Yorkshore's assets strengthens our presence in Florida and aligns with our strategy to grow our Pro Center footprint," said Shawn Wilson, CEO of BuildDirect. "This addition not only bolsters our distribution capabilities but also builds on our commitment to provide high quality service and product availability to our Pro Customers."
A Strategic Fit for Pro Center Expansion
Anchor and Yorkshore bring established relationships with local builders and contractors, a well-stocked inventory, and proven operational expertise. For the 12-month period ending December 31, 2024, Anchor and Yorkshore reported consolidated unaudited revenue of US$5.8 million and EBITDA of US$661,000. With its strong reputation in the Florida market, this acquisition aims to provide:
- Increased Market Penetration: A strengthened position in the southeastern U.S., one of the fastest-growing regions for construction and remodeling.
- Enhanced Product Offering: Access to a broader inventory of flooring products to better serve builder and contractor needs.
- Operational Synergies: Opportunities to optimize distribution networks and leverage BuildDirect's proprietary supply chain model.
"Our Pro Center strategy emphasizes disciplined growth through building and buying new locations to serve our professional customers more effectively," continued Wilson. "The addition of Anchor's and Yorkshore's assets enhances our ability to provide tailored solutions and strengthen relationships with builders, contractors, and designers in key markets."
Strengthening Our Commitment to Pro Customers
This acquisition reinforces BuildDirect's ongoing commitment to serving professional customers, a core segment of the $90+ billion retail flooring market. By combining targeted acquisitions with the development of new Pro Center locations, BuildDirect aims to build a scalable platform for growth while positioning itself to expand into adjacent markets.
"Anchor's and Yorkshore's assets are a strategic addition to our portfolio, fully aligned with our vision to grow the Pro Center network while maintaining operational excellence," said Kerry Biggs, CFO of BuildDirect. "We remain committed to executing with financial discipline and pursuing strong, long-term value for our stakeholders."
"This acquisition not only strengthens our Pro Center footprint, but also enhances our E-Commerce fulfillment capabilities across the U.S. Southeast," said Jay Allen, COO of BuildDirect. "As we transition out of our final third-party logistics provider in the region, integrating Anchor and Yorkshore's facility into our network gives us greater control, improved service levels, and operational efficiency for both Pro and E-Commerce customers."
Transaction Details
BuildDirect has agreed to acquire substantially all of the operational assets of Anchor and Yorkshore for US$593,000 fully funded and paid on close. The acquired assets include US$593,000 in inventory and tangible assets, Anchor's and Yorkshore's customer lists and other key operational assets.
The acquisition is an arm's length transaction under TSX Venture Exchange policies and does not require shareholder approval. No finder's fees were paid in connection with the transaction.
About BuildDirect:
BuildDirect (TSXV: BILD) is an expanding omnichannel building materials retailer, specializing in Pro Centers-strategic distribution hubs designed to serve professional contractors and trades. The Company is actively scaling its footprint through a combination of organic growth and strategic acquisitions, driving efficiency and market expansion. For more information, visit www.BuildDirect.com.
Forward-Looking Information:
This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. These statements reflect management's current beliefs and expectations and are based on information currently available to management as at the date hereof.
Forward-looking statements in this press release may include statements relating to BuildDirect's plan to expand its Pro Center network and footprint across North America, enhancing its reach and ability to serve the professional contractor market in key U.S. regions; the acquisition bolstering BuildDirect's distribution capabilities, enhancing BuildDirect's ability to provide tailored solutions and strengthen relationships with builders, contractors, and designers in key markets, and enhancing BuildDirect's e-commerce fulfillment capabilities giving BuildDirect greater control, improved service levels, and operational efficiency for both Pro and E-Commerce customers; and the ability of BuildDirect to, through the acquisition of Anchor and Yorkshore's assets, increase market penetration in the southeastern U.S., enhance BuildDirect's product offering and execute on operational synergies and overall integration of the Anchor and Yorkshore assets into BuildDirect's business.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Among those factors are changes in consumer spending, availability of mortgage financing and consumer credit, changes in the housing market, changes in trade policies, tariffs or other applicable laws and regulations both locally and in foreign jurisdictions, availability and cost of goods from suppliers, fuel prices and other energy costs, interest rate and currency fluctuations and changes in general economic, business and political conditions. These forward-looking statements may be affected by risks and uncertainties in the business of the Company and general market conditions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this press release reflect the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. There may be other risks, uncertainties and factors that cause results not to be as anticipated, estimated or intended and such changes could be material. These forward-looking statements are made as of the date of this press release, and BuildDirect assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Shawn Wilson, CEO,
1.778.382.7748
BuildDirect Investor Relations
ir@builddirect.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246256
SOURCE: BuildDirect.com Technologies, Inc.
