Mill Creek Lumber & Supply to Acquire Fox Building Supply
Jeff Dunn, President of Mill Creek Lumber & Supply Company (“Mill Creek”), and Jim Fox, Manager of Fox Building Supply, L.L.C. (“Fox”) are excited to announce the signing of a definitive Asset Purchase Agreement where Mill Creek shall acquire the assets of Fox in Oklahoma City, Oklahoma. Fox employs 100 people, has been in business for 50 years and has established itself as a leader in the building materials arena in OKC. Mill Creek currently employs 690 people, has been in business for 87 years and has operations in Kansas, Oklahoma and Arkansas. Both Fox and Mill Creek are committed to their employees and their strong corporate cultures, which allows them to effectively serve the building community. Post-closing, Mill Creek projects annual revenues to be in excess of $425 million for FY 2022.
“Jim Fox and his son, J.P. Fox, are integral to our success in OKC and have agreed to remain engaged with Mill Creek in our continuing operations,” says Dunn. “It is very gratifying to see two strong, independent building materials dealers combine, especially when their management teams and cultures are so strong and synergistic.” Jim Fox adds, “We are confident that the combined resources of Mill Creek and Fox shall allow us to better serve the entire building community.”
Due to the strength of Fox’s personnel and operations, Dunn anticipates minimal change to Fox’s business model in OKC.
Both Mill Creek and Fox have very similar core values and missions, making the melding of operations much easier. Both companies are very employee-centric and have developed strong company cultures and core values. Jeff Dunn added that “both Jim and J.P. Fox’s primary objective in undertaking this transaction was to take care of their people. We fully embrace that objective and look forward to welcoming all Fox Employees into the Mill Creek Family.”
The parties anticipate closing in the fourth quarter of 2021.
Source: Mill Creek Lumber & Supply Company