Siteone Slides On Purchase Of Pacific Nurseries

2025-01-03 03:14:54

(MENAFN- Baystreet) SiteOne® Landscape Supply, Inc. (NYSE: SITE) shares declined Friday, on word that its majority-owned joint venture, Devil Mountain Wholesale Nursery, has acquired Pacific Nurseries, a wholesale distributor of nursery products with one location in Colma, California, part of the San Francisco Bay area market.

“With this addition, Devil Mountain President Drew McMillan continues to execute on the company's growth strategy,” said Doug Black, Chairman and CEO of SiteOne Landscape Supply.“The acquisition of Pacific adds a strategically located site in the Bay Area to better serve our combined customers, as we work to offer the full range of landscape products and services to our customers across the U.S. and Canada.”

“The Baldocchi family have created and maintained a wonderful nursery that has served our industry for 28 years,” said Drew McMillan, President of Devil Mountain Wholesale Nursery.“We look forward to continuing their legacy of quality, service and dedication to their employees while we merge our teams under the Devil Mountain brand.”

This is the first acquisition in 2025 for Devil Mountain, of which SiteOne purchased a majority stake in April 2024.

SITE shares dipped 88 cents to $128.16.

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