Hardwoods Distribution Inc. (HDI) recently announced that, through its subsidiary Rugby Holdings, it has purchased substantially all of the assets and assumed certain liabilities of River City Millwork Inc. It’s HDI’s third acquisition in 2020.

River, located in Rockford, Ill., is a wholesale distributor of interior and exterior doors, custom millwork, and other ancillary products. River’s estimated annual sales are US$14 million and will operate under the Rugby brand name going forward.

“We are pleased to announce the acquisition of River City Millwork,” said Rob Brown, HDI’s president and chief executive officer. “River complements the Pacific Mutual Door business we purchased in the fourth quarter of 2019, strengthening existing supply relationships and expanding our geographic footprint. Over the last several years we have been strategically growing our presence in doors and related millwork distribution. The performance of this product category has been one of our strongest year-to-date and now represents over 15% of consolidated revenues. We expect this product category to benefit from the increase in U.S. residential home building and repair and remodel construction.”

The transaction purchase price of US$4.2 million, subject to final working capital adjustments, was financed by a draw on the Company’s existing US credit facility.

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