BSL Holdings Acquires Kellogg Lumber of Denver.
Kellogg sells a full line of building materials to professional builders and framing contractors in the greater Denver area. Revenues are approximately $50 million. Kellogg operates both a distribution and manufacturing facility in Denver and has recently opened a distribution operation in the Denver suburb of Castle Rock. The company was majority owned by Walter Kellogg who will continue with the business going forward.
BSL Holdings chairman, president and chief executive officer John D. Roach commented, "We are excited about building a major presence in the Colorado market with Kellogg serving as its base. Denver is one of the country's best housing markets and it is strategically important for us to have a strong growth platform there."
Walt Kellogg added, "The team at Kellogg is pleased to become associated with a major force in building products distribution. John has built an impressive operation in a short period of time. Clearly BSL Holdings has the most momentum of any team we could have joined."
BSL Holdings is owned by Stonegate Resources Holdings, a company formed by a management team led by John D. Roach and Joseph Littlejohn & Levy to make acquisitions in the building products industry. From 1991 to 1997, Roach was chairman, president and CEO of Fibreboard Corporation, a leading manufacturer and distributor of building products. Joseph Littlejohn & Levy is a New York- based investment firm managing three equity funds with committed capital exceeding $1.6 billion.
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|Date:||Jul 14, 1999|
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