Builddirect.com closes Greyne buy for $450,000 (U.S.)

Executive Summary

• Builddirect.com Technologies Inc.'s subsidiary, Builddirect Operations Ltd., has closed the acquisition of the operating assets of Greyne Custom Wood Co., an online flooring marketplace business with established placements across major U.S. home improvement retailer e-commerce channels.
• The acquisition expands Builddirect's U.S. retail marketplace presence, broadens its product assortment, and is expected to yield approximately $405,000 USD in annual operating cost savings through logistics and warehousing optimization.
• The transaction closed on February 1, 2026, for $450,000 USD in cash, subject to customary holdbacks and post-closing adjustments, and does not require shareholder approval under TSX Venture Exchange policies.

Key Details

• Transaction Structure: Asset acquisition of operating assets, including customer and supplier relationships, related contracts, intellectual property, and goodwill.
• Consideration: $450,000 USD in cash, subject to customary holdbacks and post-closing adjustments.
• Closing Date: February 1, 2026, at 12:01 a.m. Eastern Time.
• Target Financials (Fiscal 2025): Unaudited sales of approximately $6.0 million USD; Adjusted EBITDA of approximately $320,000 USD.
• Expected Synergies & Cost Savings: ~$405,000 USD in annual operating cost savings, primarily driven by the elimination of third-party logistics costs.
• Strategic Benefits: Expanded access to major U.S. retail marketplace channels; broader product assortment (engineered hardwood, rigid core, accessories); streamlined fulfillment and reduced duplicative overhead; faster product launches and improved forecasting/inventory management.
• Integration Plans: Evaluation of integration opportunities across merchandising, forecasting, inventory planning, and day-to-day operations; implementation of logistics and warehousing optimization.
• Regulatory & Approval Status: Arm's-length transaction under TSX Venture Exchange policies; no shareholder approval required; no finders' fees paid.

Notable Quotes

• Shawn Wilson, CEO: "We're excited to welcome Greyne to Builddirect. Greyne operates where a significant share of U.S. flooring demand already exists, within major retail marketplace platforms. They have built strong retailer programs supported by domestic inventory and U.S.-based fulfilment, and we believe Greyne's business model aligns well with our disciplined approach to growth through targeted acquisitions."