Lumber Depot has acquired a 35 per cent interest in Atlantic Hardware & Plumbing Company.
The listed company said it paid $210 million for the 35 per cent stake in Atlantic using internal funds.
Lumber Depot will account for the transaction from its first quarter, May 1, 2024.
Atlantic is a 30-year-old Jamaican company that is engaged in the wholesaling and distribution of hardware, building materials, plumbing, electrical, tools, and supplies to hardware stores, contractors, and developers across Jamaica.
Lumber Depot says there will be no change to the business strategy of Atlantic, and it will continue to operate as a dedicated hardware wholesaler and distributor.
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