BuildDirect.com Technologies Inc. has completed the acquisition of the assets of Greyne Custom Wood Co., a U.S. online flooring marketplace, in a deal aimed at broadening its footprint across major home improvement retail channels.
The Canadian building materials ecommerce company said it closed the transaction on Feb. 1. Under the terms of the deal, BuildDirect paid $450,000 in cash for its acquisition of Greyne’s operating assets. That includes customer and supplier contracts, intellectual property and goodwill, subject to customary holdbacks and post-closing adjustments.
BuildDirect was founded in 1999 and is headquartered in Vancouver. It operates an online marketplace for building materials that connect homeowners and professional contractors with suppliers and sellers. Its product assortment includes flooring, decking, tile and related accessories.
BuildDirect acquisition of Greyne Custom Wood
Greyne operates a marketplace-focused distribution model, placing branded flooring products on large national ecommerce platforms rather than through its own direct consumer storefront. The company supports those programs with U.S.-based inventory and fulfillment capabilities.
For its fiscal 2025 year, Greyne reported unaudited sales of about $6 million, according to BuildDirect.
BuildDirect said it expects to achieve approximately $405,000 in annual operating cost savings by consolidating logistics and warehousing functions and eliminating third-party logistics costs tied to the Greyne business.
“We’re excited to welcome Greyne to BuildDirect,” CEO Shawn Wilson. “Greyne operates where a significant share of U.S. flooring demand already exists, within major retail marketplace platforms. They have built strong retailer programs supported by domestic inventory and U.S.-based fulfillment, and we believe Greyne’s business model aligns well with our disciplined approach to growth through targeted acquisitions.”
BuildDirect said the acquisition does not require shareholder approval. Furthermore, it did not pay finders’ fees.
The Greyne deal is the latest in BuildDirect’s strategy to scale its omnichannel business through acquisitions and expanded distribution reach in the U.S. market. The company has previously supplemented its footprint through operational acquisitions and supply partnerships designed to strengthen its fulfillment network.
Sign up
Sign up for a complimentary subscription to Digital Commerce 360 B2B News. It covers technology and business trends in the growing B2B ecommerce industry. Contact Mark Brohan, senior vice president of B2B and Market Research, at mark@digitalcommerce360.com. Follow him on Twitter @markbrohan. Follow us on LinkedIn, X (formerly Twitter), Facebook and YouTube.
FavoriteThe post BuildDirect expand its U.S. marketplace footprint appeared first on Digital Commerce 360.
from Digital Commerce 360 https://ift.tt/y5DXA3s
0 Comments