Stock sells commercial door operations
Posted April 30, 2010 6:37 p.m. EDT
Raleigh, N.C. — Stock Building Supply Holdings LLC said Friday that it has completed the sale of SBS Commercial Door & Hardware LLC, its commercial door and hardware division, to The Cook & Boardman Group LLC.
Terms of the deal weren't disclosed.
Stock Chief Executive Joe Appelmann said the transaction is part of the company’s effort to focus on its core residential building materials business.
"The commercial door unit is a strong business but is not core to our strategy," Appelmann said in a statement. "The sale allows Stock to intensify its focus on the residential sector. As market conditions improve, we remain committed to redeploying our resources to our residential business."
Cook & Boardman is headquartered in Charlotte. The sale included operations in North Carolina, Florida, Utah, Idaho, Maryland, Virginia and Washington D.C.
Stock retained its commercial door and hardware operations in New Mexico and California.