Goodfellow Inc.’s (Delson, Quebec) acquisition of Quality Hardwoods Ltd., announced in October, is now official, according to Stockhouse.com.
"The acquisition of Quality Hardwoods will strengthen Goodfellow's hardwood market position in Canada and the USA,” said Denis Fraser, Goodfellow president and CEO, in a statement. “We expect to improve the coverage of Quality Hardwood customer needs with a complement of Goodfellow products.”
The purchase price was $5.7 million including net assets of $4.1 million. Quality Hardwoods’ average consolidated sales for the past three years averaged $13.7 million, according to the statement.
Under the terms of the acquisition, Quality Hardwoods will continue to operate as a separate entity from Goodfellow.
