Stock Building Supply buys National Home Centers Inc.
Stock Building Supply on Monday closed on its acquisition of National Home Centers Inc., an Arkansas-based supplier of construction materials that had been operating under Chapter 11 bankruptcy protection.
Raleigh-based Stock had issued a stalking-horse bid in late February to purchase National Home Centers Inc. A bankruptcy court judge approved the sale April 2.
Ken Greene, a Stock veteran, will serve as market manager for the company’s Arkansas operations.
The expansion adds to Stock’s 19-market footprint.
Financial terms of the deal were not released. It was not immediately known how many employees and stores the acquisition would bring to Stock.
A Stock spokeswoman did not immediate return a phone call seeking comment.
Stock’s expansion comes after a tumultuous two-year period for the company. In response to a stalled housing market, the building material supplier slashed more than 5,000 jobs and closed more than 100 stores as part of its own bankruptcy reorganization last year. As part of that process, British giant Wolseley PLC sold a majority stake in stock to The Gores Group, a Los Angeles-based private equity firm that provided the financing to bring Stock out of Chapter 11 protection.