Cedar Creek Wholesale, a building material distributor based in Oklahoma City, has agreed to purchase Wholesale Wood Products of Dothan and Birmingham, Ala. Financial details of the transaction were not revealed.
Wholesale Wood Products serves five southeastern states from two locations in Alabama and specialized in western red cedar and cypress.
Cedar Creek has 12 locations in 17 states across the Midwest, Mid-south and Southeast.
Banner Supply Co., the Miami-based drywall distributor, has agreed to pay $53 million to settle a class-action lawsuit claiming it sold defective drywall imported from China. The settlement offer, which is still subject to court approval, will be deposited into an escrow account for plaintiffs who claim their houses need remedial work after being built with toxic drywall.
Banner and its insurers deny any wrongdoing, pointing out that the company never manufactured the drywall it sold or delivered.