BuildDirect Announces Definitive Agreement to Acquire Greyne Custom Wood, Adding Online Flooring Marketplace Platform with Major U.S. Retailer Channels

Executive Summary

• BuildDirect Operations Ltd. completed a cash acquisition of the operating assets of Greyne Custom Wood Co. for US$450,000.
• Greyne reported FY 2025 unaudited sales of ~US$6.0 million and Adjusted EBITDA of ~US$320,000; BuildDirect expects annual cost savings of ~US$405,000 from integration.
• The acquisition expands BuildDirect’s presence on major U.S. retail marketplace platforms, broadens product assortment, and provides operational efficiencies through logistics and warehousing optimization.

Key Details

• Transaction Closing: Effective 12:01 a.m. ET on February 1, 2026.
• Consideration: US$450,000 cash, subject to customary holdbacks and post‑closing adjustments; no shareholder approval required; no finder's fees paid.
• Greyne FY 2025 Metrics (unaudited):
• Sales: ~US$6.0 million
• Adjusted EBITDA: ~US$320,000
• Projected Cost Savings: Approximately US$405,000 annually from elimination of third‑party logistics costs and other overhead reductions.
• Strategic Benefits:
• Expanded access to major U.S. e‑commerce retail marketplace channels that are difficult to enter organically.
• Broader flooring product assortment (engineered hardwood, rigid core, accessories).
• Streamlined fulfillment, inventory planning, and warehousing functions.
• Faster speed‑to‑market for new product launches.
• Integration Focus Areas: Merchandising, forecasting, inventory planning, day‑to‑day operations, administrative and accounting functions.
• Corporate Structure: Acquisition of operating assets only (customer/supplier relationships, contracts, IP, goodwill).

Notable Quotes

“We're excited to welcome Greyne to BuildDirect,” said Shawn Wilson, CEO of BuildDirect. “Greyne operates where a significant share of U.S. flooring demand already exists… we believe Greyne's business model aligns well with our disciplined approach to growth through targeted acquisitions.”