IBSA INC. MERGES INTO LBM ADVANTAGE INC.
The merger of IBSA Inc. into LBM ADVANTAGE INC., approved by the shareholders of each group earlier this year, has been completed as of October 1, 2017.
“It has been an honor to work with the staff and directors of IBSA to structure a merger that will be beneficial to our combined memberships; not just for today but for future generations” remarked Steve Sallah, president & CEO of LBM Advantage.
The combined Advantage shareholder base bands together $6 billion of retail sales from 585 member companies operating 1100 locations in 35 states. IBSA’s Smithfield, N.C. location will be added to Advantage’s current New Windsor, N.Y., Grand Rapids, Mich. and Monroe, La. member sales and service centers.
“LBM Advantage offers National Buying Power with products and program expertise unique to each region. This expansion will allow all members to enjoy even stronger service, further strengthening their position in the marketplace” noted Advantage Chairman John Callahan, president & CEO of Riverhead Building Supply, Riverhead, N.Y.
“Building on the success of the 2016 merger of PAL Inc. and ENAP Inc., we are all excited for the increased benefits available to our dealers as we continue to grow” added Tim Johnson, former president of IBSA and now vice president of southeast operations. “We have a unique opportunity to leverage a large and regionally diversified membership base for the benefit of our member-dealers.”
IBSA Chairman Kent Berrier of Tuttle Lumber in Winston Salem, N.C. agreed, stating “This is a tremendous opportunity for our members. The teams worked very hard to merge the companies and develop an operating model that will work well for our dealers. We are excited to execute this new venture on behalf of all of our members.”
LBM Advantage is a member-owned forest products and building materials cooperative comprised of the industry’s premier independent LBM retailers. Its mission is to create a competitive advantage for its members by leveraging their collective power.
Source: LBM Advantage