ST. LOUIS, Jan. 9, 2024—Core & Main Inc. (NYSE: CNM), a leader in advancing reliable infrastructure with local service, nationwide, has entered into a definitive agreement to acquire substantially all of the assets of Eastern Supply Inc. and a related entity (collectively, “Eastern Supply”), a distributor of a broad range of storm drainage products, with custom fabrication capabilities, headquartered in Virginia.
“The extensive product knowledge and fabrication capabilities in water, wastewater and stormwater management that the Eastern Supply team brings to Core & Main will be a great contribution to our national waterworks expertise,” said Steve LeClair, chief executive officer of Core & Main.
For close to three decades, the Eastern Supply team has supplied a broad range of drainage products to contractors, engineers and municipalities across the Northeast. The company has a location in Winchester, Virginia, and Greencastle, Pennsylvania. With a focus on exceeding customer expectations, Eastern Supply prides itself on delivering reliable and creative start-to-finish site solutions.
“The Eastern Supply team has built enduring customer relationships through their commitment to supplying quality products backed by dependable service and industry expertise. I’m excited to welcome them to the Core & Main family and to see what we will accomplish together,” said Jack Schaller, president of Core & Main.
“Eastern Supply has worked very hard over the years to build our reputation as an innovator and supplier-of-choice in this industry, and we are proud of the relationships we have built with our customers and suppliers,” said Tim Martin, owner/president of Eastern Supply. “It is clear we share a fundamental set of values with Core & Main. Their focus on growth, collaborative associate development and customer satisfaction creates a lot of excitement for our team and the company.”
About Core & Main
Based in St. Louis, Core & Main is a leader in advancing reliable infrastructure™ with local service, nationwide®. As a leading specialized distributor with a focus on water, wastewater, storm drainage and fire protection products, and related services, Core & Main provides solutions to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets, nationwide. With approximately 320 locations across the U.S., the company provides its customers local expertise backed by a national supply chain. Core & Main’s 4,500 associates are committed to helping their communities thrive with safe and reliable infrastructure. Visit coreandmain.com to learn more.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Core & Main’s financial and operating outlook, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contacts
Investor Relations:
Robyn Bradbury, 314-995-9116
[email protected]
Media Relations:
Jennifer Noonan, 314-750-9670
[email protected]