BURNCO Rock Products Sells Landscape Centres Business to Drive Company's Growth in Core Businesses

CALGARY, AB, Oct. 1, 2020 /CNW/ - BURNCO Rock Products Ltd. ("BURNCO" or "the company") today announced it has completed the sale of its wholly owned subsidiary, BURNCO Landscape Centres Inc. ("BURNCO Landscape"), to SiteOne Landscape Supply, Inc. ("SiteOne") (NYSE:SITE), the leading wholesale distributor of landscape supplies in North America.

BURNCO Landscape has a network of 12 locations and an online presence with approximately 200 employees servicing key markets in Alberta, British Columbia and Saskatchewan. Locations include Calgary, Edmonton, Fort McMurray, Lethbridge, Red Deer, Kelowna, Langley, Surrey, Regina and Saskatoon.

"This transaction is truly a win for all parties," said Scott Burns, BURNCO's Chairman and CEO. "We have developed strong relationships at the leadership level with SiteOne over the past few years. We believe the landscape centres are aligned with the best possible owner in SiteOne. Their ownership will benefit the employees, customers and suppliers of the landscape centres as they focus on growing the organization in this specialty category in the Canadian market. We at BURNCO will use the proceeds from the sale to further advance our strategy of creating value by focusing on our core businesses both domestically and internationally."

The sale of BURNCO Landscape will support future growth in BURNCO's operating divisions, which all boast strong organic and M&A potential. The company will look to expand its market position for its high-quality aggregate, paving asphalt and ready-mix concrete business units and subsidiaries. BURNCO will also consider acquisitions where the company can add meaningful value and further advance its business strategy.

The transaction includes the transition of BURNCO Landscape's management team and employees to SiteOne in addition to the assets. No job losses are projected as part of the transaction.

"We are very excited about the prospect of joining SiteOne to advance our business's ambitious growth initiatives," said Morgan Martel, currently President of BURNCO Landscape, who will lead the new entity. "SiteOne has a proven track record of acquiring businesses that provide strong future growth potential. While it's difficult for me and our employees to say goodbye to the BURNCO organization, this is the best outcome for all parties."

Doug Black, Chairman and CEO of SiteOne, said, "We are pleased to add the established and respected BURNCO Landscape Centres business to our ever-growing SiteOne family of companies. BURNCO expands our product offering to now include hardscapes and landscape supplies in Western Canada to complement our current Irrigation and Agronomics capabilities.  We are also thrilled to have Morgan and his very talented team join us as we push forward on our mission of being the best full-line distributor to landscape professionals in the U.S. and Canada."

BURNCO and its operations continue to operate within the protocols of each of its jurisdictions as an essential service during the COVID-19 pandemic supplying products and services to enable the construction sector to remain operational.

About BURNCO

BURNCO Rock Products Ltd is a fourth generation family business established in Calgary in 1912 by James F. Burns. The company has operations in Alberta, British Columbia, Saskatchewan, Texas and Colorado. Headquartered in Calgary, BURNCO produces high-quality aggregate, paving asphalt and ready-mix concrete for its valued customers. For more information, visit www.burnco.com.

About SiteOne

SiteOne Landscape Supply, Inc. (NYSE: SITE) is the largest and only national wholesale distributor of landscape supplies in the United States with a growing presence in Canada. Its customers are primarily residential and commercial landscape professionals who specialize in the design, installation and maintenance of lawns, gardens, golf courses and other outdoor spaces. Visit www.siteone.com for information.

SOURCE BURNCO Rock Products Ltd