Denver, CO, April 30, 2015 (GLOBE NEWSWIRE) --
Top management members of Zarsky Lumber ("Zarsky") and Kodiak Building Partners ("Kodiak") announced today an agreement in principle under which Kodiak would purchase substantially all the operating assets of Zarsky.
Paul Hylbert, Chairman of Kodiak said, “We’ve been interested in joining forces with Zarsky for many years, and look forward to supporting the growth trajectory that the Zarsky team is on and feel they will be a significant contributor to Kodiak’s future”.
Cally Fromme, CEO of Zarsky added, “Zarsky Lumber Co, Inc. has provided building materials to South Texas for nearly 90 years. The partnership with Kodiak offers many new opportunities for our customers and our employees. We anticipate a very bright future for all parties involved.”
“We look forward to working with the excellent Zarsky team, supporting their business and continuing to grow with them in Texas”, added Steve Swinney, Kodiak’s CEO. “We feel we can leverage the Zarsky name and reputation and do more to serve their strong customer base in South Texas. Most importantly, the Zarsky key management team including Cally, Phillip Steffy, Steve Weaver, and Travis Fromme will continue with the company under the new ownership structure."
The parties indicated that the deal is subject to normal closing conditions and should be consummated by the end of the second quarter.
About the Companies:
Zarsky Lumber Company operates 10 locations in South Texas from Wharton, Victoria, Port Aransas, Corpus Christi and Kingsville down into The Valley in McAllen, Harlingen, Los Fresnos, Rio Grande City and Laredo. Zarsky serves homebuilders, tradesmen, ranchers and consumers through their chain of full service lumberyards. In addition, Zarsky operates a component plant and two millwork fabrication facilities which serve the customers throughout the chain.
Kodiak Building Partners serves general contractors, homebuilders, sub-contractors, remodelers and consumers through its 21 locations in Texas, Colorado, Michigan and New England with a diverse array of products including construction supplies, fabricated steel and accessories, gypsum, commercial doors, millwork, cabinets and appliances, and lumber and building materials.