GMS Enters New York City Market With New Acquisition & Greenfield Location

Specialty building products distributor GMS Inc GMS has expanded its platform with its first entries in the New York City market.
The company has acquired Tanner Bolt and Nut Inc. and opened a ceilings-focused greenfield location. The financial terms were not disclosed.
Tanner Bolt and Nut Inc distributes fasteners, tools, safety and related construction products to the broader New York City market.
The new greenfield location in New York has a dedicated facility focused on the growth of acoustical ceilings business into the New York City metro area.
"We are pleased to take this first step into such a significant market. With Tanner's focus on tools and fasteners, these additions, along with the establishment of several new greenfield yard locations and AMES stores over the last several months represent our continued commitment to the execution of our strategic priorities of platform expansion and Complementary Product growth,” said CEO John C. Turner Jr.
To date, GMS has added six new greenfield locations since the start of fiscal 2023.
Price Action: GMS shares closed lower by 2.06% at $49.80 on Friday.
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