Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, September 16, 2022

Article Excerpt

GOODFELLOW INC., $11.38, symbol GDL on Toronto, is a diversified manufacturer of value-added lumber products, as well as a wholesale distributor of building materials and floor coverings. The company distributes its products across Canada. It services commercial and residential customers through lumberyard retailer networks, manufacturers, industrial and infrastructure project partners, and floor covering specialists. Goodfellow also sells to lumber markets internationally. The business has nine processing plants and 13 distribution centres in Canada, as well as one distribution centre in the USA and one in the U.K. Goodfellow supplies more than 7,000 customers. The company buys its lumber from over 1,200 sawmills across North America and abroad. Notably, it has become one of Canada’s largest distributors of hardwood flooring. Approximately 32% of the company’s sales are in Quebec, followed by Ontario (30%), Atlantic provinces (17%), Western Canada (9%), the U.S. and elsewhere (12%). In the three months ended May 31, 2022, Goodfellow’s revenue fell 0.3%, to $185.0 million from $185.5 million a year earlier…