Hanes Geo Components, of Winston Salem, NC, announces that they have reached agreement to acquire Price and Company. Founded by John Price in 1986, Price and Company has long been recognized as a leader and pioneer in distribution services for site development contractors. Price and Company operates from two locations near Detroit and Grand Rapids, Michigan. John Dowdell, President of Hanes Geo Components commented, "With their focus on distribution of geotextile, erosion control, and storm water products, Price and Company is an excellent operational fit with Hanes Geo Components. Price and Company’s outstanding reputation as an ethical and well managed business team also makes them an excellent cultural fit to our organization.”
John Price, President and CEO of Price and Company commented, “We are excited to enter this next phase of market development. By aligning with Hanes Geo Components, I am confident that the Price and Company team will be well positioned to continue our leadership position for many years to come in markets we service.”
Jerry Greene, President of Hanes Companies notes, “Hanes Geo Components is enjoying a robust period of growth in the midst of a very challenging economic environment. In addition to our just announced acquisition of Price and Company, Hanes Geo Components has established operations in Miami, FL, Oklahoma City, OK, as well as expanding operations in Salt Lake City, UT. Hanes Companies, and our parent company, Leggett & Platt, remain committed to executing our ongoing strategy of developing a national distribution network for geotextile, erosion control, and storm water products.”
Hanes Geo Components is a market leader distributing geotextile, erosions control, and storm water management products through 29 North American locations. Hanes Geo Components is a business segment of Hanes Companies, a wholly owned subsidiary of Leggett & Platt.
Leggett & Platt is a diversified manufacturer (and member of the S&P 500) that conceives, designs, and produces a broad variety of engineered components and products that can be found in most homes, offices, and automobiles. The company is comprised of 19 business units, 19,000 employee-partners, and 140 manufacturing facilities located in 18 countries.
