5
Jul

Foundation Building Materials, Inc. Acquires Virginia Builders' Supply, Inc. – Business Wire (press release)

TUSTIN, Calif.–(BUSINESS WIRE)–Foundation Building Materials, Inc. (“FBM” or the “Company”) (NYSE:FBM),
one of the largest specialty distributors of wallboard and suspended
ceiling systems in the United States and Canada, announced today that it
has closed the acquisition of Virginia Builders’ Supply, Inc. (“Virginia
Builders”). Virginia Builders is an independent distributor of building
materials that has been in business for 40 years. The product offering
includes gypsum wallboard, joint treatment, steel framing, insulation,
fasteners, tools and other accessory products used by wall and ceiling
contractors in the commercial and residential markets.

“We are excited to announce that Virginia Builders will be joining the
FBM team. Virginia Builders allows us to add a full line of specialty
building products to the Richmond market with the addition of drywall,
steel framing, and insulation,” said Ruben Mendoza, FBM’s Chief
Executive Officer.

“Virginia Builders’ strong commercial based business will allow FBM to
further leverage our existing large customer relationships and drive
value for FBM shareholders. Its strong base of commercial business in
drywall, steel framing and insulation also complements our existing
ceilings business in the area with other manufacturers. We look forward
to growing and strengthening our position in the Richmond market and
bringing an expanded product offering to the broader region,” said
Mendoza.

About Foundation Building Materials

Foundation Building Materials is a specialty distributor of wallboard,
suspended ceiling systems, and mechanical insulation throughout the U.S.
and Canada. Based in Tustin, California, the Company employs more than
3,400 people and operates more than 200 branches across the U.S. and
Canada.

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