Boise Cascade announced that it has reached an agreement to purchase Brockway-Smith Company (BROSCO), a leading wholesale distributor specializing in doors and millwork. The purchase price for BROSCO, including the acquisition of its two full-scale distribution centers, is $172 million, subject to certain closing adjustments. Boise Cascade plans to fund the transaction and closing-related expenses from its existing cash balances.
BROSCO is a fifth-generation, family-owned company founded in 1890. It operates distribution centers in Hatfield, Massachusetts, and Portland, Maine. In addition to interior and exterior doors, BROSCO's offerings also include mouldings, railings, windows, stair parts, and composite products.
Boise Cascade currently operates 10 millwork locations in some of the nation's fastest-growing markets, specializing in exterior and interior doors, frames, hardware, and pre-finishing options.
Closing of the transaction is expected to be complete in early Q4 2023, subject to customary closing conditions, including receipt of antitrust approval under the Hart-Scott-Rodino Act of 1976.
Boise Cascade is one of the largest producers of engineered wood products and plywood in North America and a leading U.S. wholesale distributor of building products.