Noble Acquires MPH Supply Ltd.
The transaction also includes the acquisition of related company Better Bathrooms Ltd., a retail outlet specializing in sales of finishing plumbing products (www.better-bathrooms.ca).
MPH Supply and Better Bathrooms generate close to $15 million in sales with 50 employees.
“We’re very pleased with this acquisition, which gives us instant access to a new geographical area in the specialized plumbing market and represents strong growth potential through opening of new branches as well as further acquisitions in western Canada. Following our entry into Quebec’s specialty plumbing market with two acquisitions earlier this year, this transaction represents another step toward achieving Rona’s objective of establishing a national platform in the commercial and professional market,” said Michael Storfer, vice president of Rona’s commercial and professional market division.
“Besides breaking into a new geographic market, the acquisition is exactly in line with our strategy to add critical mass to our existing product and service offering in the specialized plumbing market thus generating important procurement synergies with Noble. MPH Supply’s integrated distributor/retailer approach is another strength we will capitalize on in our commercial and professional market division,” Storfer said.
MPH Supply and Better Bathrooms co-owners Rod Andrew and Peter Austen have agreed to stay on with the company to help develop the commercial and professional market division in British Columbia. “Joining ranks with a subsidiary of Rona will provide our employees access to great development opportunities and a stimulating work environment. Our customers will continue to benefit from our strong service and will certainly benefit from Rona’s development plans for the region,” Andrew and Austen said in a statement.
This is the fifth acquisition of the year for Rona’s Commercial and Professional Market division.
Publication date: 12/06/2010