Core & Main Signs Agreement to Acquire GroGreen Solutions Georgia LLC

Business Wire 12-Aug-2024 4:15 PM

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 GroGreen Solutions Georgia, LLC (GroGreen), a leading provider of erosion control products with four locations across the southeastern United States.

"The GroGreen team's extensive industry expertise and broad product offering complement our existing geosynthetics product portfolio exceptionally well," said Steve LeClair, chair and CEO of Core & Main. "GroGreen has a strong presence and outstanding distribution capabilities in the Southeast, which will allow us to accelerate our growth in the region."

Since 2008, GroGreen has established itself as a leading provider of a comprehensive portfolio of erosion control and geotextile products for professional and industrial projects. They consistently deliver value-added solutions to help meet their customers' unique site solution needs from four locations, two in Georgia, one in Florida and one in Mississippi.

"GroGreen's commitment to providing superior service and high-quality products to address the erosion control concerns of their customers makes them a strong strategic fit for us," said Brad Cowles, president of Core & Main. "It is clear that they share our commitment to being a trusted and dependable partner, and we look forward to having them join the Core & Main family."

"Our talented team takes considerable pride in consistently providing reliable products and support to help our customers' projects succeed," said Greg Jarrell, CEO of GroGreen. "I am excited for my team to start a new chapter with Core & Main, who not only shares this mindset but also provides an array of new and exciting resources and future growth opportunities for them."

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 more than 350 locations across the U.S., the company provides its customers local expertise backed by a national supply chain. Core & Main's nearly 5,500 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240812809723/en/