Boise Cascade Agrees To Buy Brockway-Smith Co.: Stock Up In Pre-market

(RTTNews) - Boise Cascade Co. (BCC), a wood products manufacturer, on Wednesday announced that it has agreed to purchase the wholesale distributor of doors and millwork, Brockway-Smith Company or BROSCO for $172 million.

BROSCO, a fifth-generation company founded in 1890 has distribution centers in Hatfield and Portland. The firm operates 10 millwork locations and specializes in exterior and interior doors, frames, hardware, pre-finishing options and also offers moldings, railings, windows, stair parts, and composite products.

The acquisition includes two full-scale distribution centers and is going to be funded from its existing cash balances.

The deal is expected to close in the early fourth quarter.

Wells Fargo advised Boise Cascade as a financial advisor and Perkins Coie LLP, acted as the legal counsel.

In pre-market activity, shares of Boise Cascade Company are trading at $ 114.17 up 6.85% on the New York Stock exchange.