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Builders FirstSource Agrees to Acquire Bond Builders Supply, Inc.
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01/16/2005
DALLAS and CASHIERS, N.C., Builders FirstSource and Bond Builders Supply, Inc. announced today that they have entered into a letter of intent for Builders FirstSource to acquire Bond Builders Supply, Inc. of Cashiers, NC. Terms of the acquisition were not disclosed. The transaction is expected to close prior to the end of the year.<P>Floyd Sherman, Builders FirstSource Chairman and CEO commented, "We are pleased to have agreed to acquire Bond Builders Supply, Inc. Cashiers is an attractive resort market. We had been serving the market from our Brevard, NC location, nearly an hour and a half away. This will give us the ability to improve our customer service and efficiency. We are also pleased to be able to acquire Bond, which has been one of the leaders in the market for many years."<p> Sherman continued, "This announcement represents our third acquisition agreement in the last month. The last two years have been relatively quiet on the acquisition front in our industry. However we have seen a marked increase in acquisition activity and expect the trend to continue into 2004."<P>David Bond, Jr., President of Bond Builders Supply, Inc. commented, "We are pleased to be joining a company with the size and financial strength of Builders FirstSource. We think combining our market position with their scale and presence will create a very strong competitor in the Cashiers' market. We also think this transaction will present many attractive opportunities for our employees." Mr. Bond will assist in the transition of the company to Builders FirstSource.<p>Headquartered in Dallas, Texas, Builders FirstSource is one of the nation's leading suppliers of building materials to professional homebuilders in the United States. Builders FirstSource operates 80 manufacturing facilities and 58 distribution centers in 70 cities within 11 states.Manufacturing facilities include truss plants, millwork fabrication facilities, wall panel plants, window fabrication operations, cabinet shops,stair shops and synthetic millwork plants.<p>Bond Builders Supply, Inc. succeeded Cashiers Builders Supply established in 1953. David Bond, Sr. purchased the business in 1968 and incorporated under its present name in 1973. David Bond, Sr. retired as president of the company in 1994 when David Bond, Jr. succeeded him until present day. Bond has served the Cashiers area for over 35 years.
