Stella-Jones To Acquire Brooks Manufacturing For $140 Mln

(RTTNews) - Stella-Jones Inc. (STLJF, SJ.TO), a Canadian manufacturer of pressure-treated wood products, on Tuesday it has entered into a definitive agreement to acquire the assets of Brooks Manufacturing Co.

The acquisition price is about $140 million and is expected to close by year-end.

The Company said its strategy focuses on broadening its product portfolio and utilizing its extensive sales and distribution network to better serve the utility sector.

The acquisition will be financed through Stella-Jones' existing revolving credit facilities

On Monday, Stella-Jones is 0.35% lesser at CAD 76.28 on the Toronto Stock Exchange.