05:27 PM EDT, 07/29/2024 (MT Newswires) -- ADENTRA ( HDIUF ) after trade Monday said one of its wholly owned subsidiaries completed the US$130-million acquisition of substantially all the assets of Woolf Distributing Co, assuming certain working capital liabilities.

The company said it financed the acquisition using existing credit facilities. An additional earn-out consideration of US$5 million may be payable related to each of the calendar years ending 2024, 2025 and 2026 contingent upon achieving certain earnings performance targets.

"Woolf expands our geographic footprint and product offering, adding complementary millwork locations to our US Midwest operations, as well as new branded specialty products in the outdoor living product category. The addition of Woolf also deepens our access to the attractive Pro Dealer customer channel where ADENTRA ( HDIUF ) expects favorable multi-year demand from new residential and repair and remodel markets, supported by low existing home inventories, favorable demographics, strong home equity levels and an aging US housing stock," chief executive Rob Brown said.

ADENTRA ( HDIUF ), which saw its shares ease $0.07 at $40.93 today, is one of North America's largest distributors of architectural products.