New corporate branding reflects our
identity
LANGLEY,
BC, Nov. 7, 2022 /CNW/ - Hardwoods
Distribution Inc. ("HDI" or the "Company") (TSX: HDI)
today announced its intention to rebrand the Company
from Hardwoods Distribution Inc. to ADENTRA Inc.,
("ADENTRA"). The name change will be formally submitted to
shareholders for consideration at the Company's special meeting of
shareholders that is being held on December
2, 2022 (the "Meeting"). If the name change is approved by
shareholders, and subject to customary Toronto Stock Exchange
("TSX") approvals, the Company expects to have its trading symbol
for common shares on the TSX changed to "ADEN".
Deriving from the Spanish word 'dentro' meaning 'within',
ADENTRA represents the Company's modern identity as a diverse
supplier of specialty architectural building products used to
create beautiful spaces where we live, work and play.
"This is an exciting time for the Company and our employees
throughout North America,"
expressed Rob Brown, President and
Chief Executive Officer. "We have significantly transformed our
business over the past several years as we organically expanded our
product offering and added quality businesses through our
acquisition strategy. Our company today delivers a one-stop
customer buying experience with access to a diversified mix of
specialty products used in the finishing stages of construction
projects. We have created a North American wide distribution
capability and broadened our customer channel participation to
include industrial fabricators, ProDealers, and home centers."
"We believe the new name ADENTRA captures the overall value we
have built – our extensive product portfolio, our critical role
providing supply chain expertise, and the benefits of scale we
deliver to our vast network of customers," Mr. Brown added. "While
our corporate name is being renewed, our work with our customers
will continue in their local communities through each of our
flagship brands."
The Company services its customer base across the United States and Canada through our flagship brands, including
Novo Building Products, Mid-Am Building Supply, Rugby Architectural
Building Products, Paxton Lumber, and Hardwoods Specialty Products.
Our customer relationships will continue to be managed directly
through each of these brands and the corresponding regional
customer service centers they operate in their local markets.
About the Company
HDI is one of North America's
largest suppliers of specialty building products to fabricators,
home centers and professional dealers servicing the new
residential, repair and remodel, and commercial construction end
markets. The Company currently operates a network in North America of 86 regional customer service
centers in the United States
and Canada. HDI's common shares
are listed on the Toronto Stock Exchange under the symbol
"HDI".
SOURCE Hardwoods Distribution Inc.
