SiteOne® Landscape Supply Expands Presence with Acquisition of Pacific Nurseries
$SITE
SiteOne® Landscape Supply, Inc. (NYSE: SITE) announced that its majority-owned joint venture, Devil Mountain Wholesale Nursery, has acquired Pacific Nurseries, a wholesale distributor of nursery products based in Colma, California. This acquisition marks a strategic step in expanding SiteOne’s presence in the San Francisco Bay Area, enhancing its ability to serve a growing customer base in the region.
According to Doug Black, Chairman and CEO of SiteOne Landscape Supply, this move aligns with the company’s long-term growth strategy. Black highlighted the importance of adding Pacific Nurseries to the joint venture’s operations, noting that its location in the Bay Area strengthens Devil Mountain’s ability to deliver a comprehensive range of landscaping products and services to customers across the U.S. and Canada.
The acquisition not only complements Devil Mountain Wholesale Nursery’s existing operations but also reinforces its reputation as a leading supplier in the landscape supply industry. Drew McMillan, President of Devil Mountain, is spearheading the integration of Pacific Nurseries, ensuring a seamless transition that leverages Pacific’s resources, expertise, and established customer relationships. This collaboration is expected to accelerate growth and elevate service levels for professional landscapers, contractors, and other industry stakeholders.
While the announcement of this acquisition has generated optimism, offering a modest boost to SiteOne’s stock, the company has faced challenges in the market. Shares are currently trading at $129.47, reflecting a decline of $18.08, or 12.25%, over the past month. Despite this setback, the strategic acquisition underscores SiteOne’s commitment to long-term growth and operational excellence.
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