Boise Cascade Acquires Coastal Forest Products
Ticker: BCC · Form: 8-K · Filed: Oct 31, 2024 · CIK: 1328581
| Field | Detail |
|---|---|
| Company | Boise Cascade Co (BCC) |
| Form Type | 8-K |
| Filed Date | Oct 31, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $0.21, $165 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, distribution, expansion
Related Tickers: BCC
TL;DR
Boise Cascade buying Coastal Forest Products to boost PNW distribution.
AI Summary
Boise Cascade Company announced on October 30, 2024, that it has entered into a definitive agreement to acquire the assets of Coastal Forest Products, a wholesale building materials distributor. The transaction is expected to close in the fourth quarter of 2024 and will expand Boise Cascade's distribution footprint in the Pacific Northwest.
Why It Matters
This acquisition will enhance Boise Cascade's market presence and distribution capabilities in a key region, potentially leading to increased revenue and market share.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks related to integration, market reception, and potential unforeseen liabilities.
Key Players & Entities
- Boise Cascade Company (company) — Registrant
- Coastal Forest Products (company) — Acquired entity
- October 30, 2024 (date) — Date of earliest event reported
- Fourth quarter of 2024 (date) — Expected closing period for acquisition
FAQ
What specific assets are being acquired from Coastal Forest Products?
The filing states that Boise Cascade Company is acquiring the assets of Coastal Forest Products, but does not specify the exact nature or list of these assets.
What is the financial value of the acquisition of Coastal Forest Products?
The filing does not disclose the financial terms or purchase price of the acquisition of Coastal Forest Products.
When is the acquisition of Coastal Forest Products expected to be completed?
The acquisition of Coastal Forest Products is expected to close in the fourth quarter of 2024.
What is the strategic rationale behind Boise Cascade's acquisition of Coastal Forest Products?
The acquisition is intended to expand Boise Cascade's distribution footprint in the Pacific Northwest.
Does this acquisition involve any regulatory approvals?
The filing does not explicitly mention any required regulatory approvals for the acquisition of Coastal Forest Products.
Filing Stats: 643 words · 3 min read · ~2 pages · Grade level 10.9 · Accepted 2024-10-30 17:49:31
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share BCC New York Stock
- $0.21 — rs had declared a quarterly dividend of $0.21 per share to holders of its common stoc
- $165 million — the Program at a cost of approximately $165 million. This authorization replenishes the Pro
Filing Documents
- bcc-20241030.htm (8-K) — 25KB
- ex991div4q2024.htm (EX-99.1) — 11KB
- bcclogoa02a05.jpg (GRAPHIC) — 7KB
- 0001328581-24-000086.txt ( ) — 170KB
- bcc-20241030.xsd (EX-101.SCH) — 2KB
- bcc-20241030_lab.xml (EX-101.LAB) — 21KB
- bcc-20241030_pre.xml (EX-101.PRE) — 12KB
- bcc-20241030_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On October 30, 2024, Boise Cascade Company (the Company) issued a press release announcing that its board of directors had declared a quarterly dividend of $0.21 per share to holders of its common stock, payable on December 18, 2024 to stockholders of record on December 2, 2024. The press release is furnished hereto as Exhibit 99.1 and incorporated by reference into this Item 7.01. The information in this Item 7.01 of Form 8-K, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
01 Other Events
Item 8.01 Other Events. On October 30, 2024, the Company issued a press release announcing that its board of directors authorized the repurchase of an additional 1.4 million shares of the Company's common stock under the Company's existing common stock repurchase program (the Program). From January 1, 2024 to October 30, 2024, the Company repurchased 1.28 million shares under the Program at a cost of approximately $165 million. This authorization replenishes the Program, bringing the total repurchase authorization to approximately 2 million shares of the Company's common stock. The press release is furnished hereto as Exhibit 99.1 and incorporated by reference into this Item 8.01.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits The following exhibits are furnished as part of this Current Report on Form 8-K: Exhibit No. Description of Exhibit 99.1 Boise Cascade Company Press Release, dated October 30, 2024. 101 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. 104 The cover page from this Current Report on Form 8-K, formatted as Inline XBRL. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BOISE CASCADE COMPANY By /s/ Jill Twedt Jill Twedt Senior Vice President, General Counsel and Secretary Date: October 30, 2024