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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