U.S. LUMBER Group Acquires Cardinal Forest Products

U.S. LUMBER has purchased the assets of Cardinal Forest Products, a wholesale distributor of lumber products based in Statesville, N.C. Terms of the transaction were not disclosed.

"Due to the performance of our exceptional personnel during this difficult downturn, U.S. LUMBER is well positioned financially to take advantage of acquisitions such as Cardinal Forest Products. Our team is interested in qualified acquisitions that make both strategic and financial sense," says Ronnie Stroud, U.S. LUMBER's chief financial officer. Stroud also said that the terms of the deal will be accretive to U.S. LUMBER in the 4th quarter of this year.

Cardinal's Statesville, N.C., distribution center will be closed and product shipped out of U.S. LUMBER's locations in Greenville, S.C., and Raleigh N.C., locations.

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