Acme Brick Company agreed to purchase substantially all of the assets of
Jenkins Brick & Tile Company LLC.
Jenkins, based in Montgomery, Alabama, owns three brick plants in Alabama in addition to its tile distribution and stone fabrication businesses.
Jenkins sells products through more than 20 company-operated sales facilities in Alabama, Georgia, Tennessee, South Carolina and Florida and through a strong network of distributors nationwide.
The sale closed on Jan. 31, 2011.
"This transaction represents an important strategic move for our company and an important benefit for our customers,"
said Dennis Knautz, Acme Brick CEO.
"As the housing market begins its slow recovery, many national builders are looking for ways to streamline their businesses.
The agreement will extend our combined direct sales reach from the Rocky Mountains to the Atlantic Ocean and from the Gulf of Mexico to Minnesota," he said.
"A broader sales platform, when complemented by the distributor network, will make it much easier for builders to specify our products and know that they will get consistent quality and receive the type of service they expect no matter where they choose to build new homes.
"We have known and have had great respect for many members of the Jenkins management team for a long time," Mr. Knautz added.
"I am truly impressed by the length of service of many of Jenkins' associates.
This tenure clearly reflects the type of leadership that the Jenkins family has provided to the business and the spirit that exists within the organization. Their knowledge and experience should help make the transition easier. I am looking forward to meeting many of them as quickly as I can."
Mike Jenkins IV, commenting on the acquisition, said, "We have worked with many brick companies over the years, but when it came time to choose a partner for our multi-generational business and our associates, we chose Acme because of their leadership in the industry and how they treat their employees and their customers.
We look forward to working with Dennis and his management team to make a smooth transition."
Acme Brick Company, the world’s largest American-owned brick company was established on April 17, 1891 near Fort Worth, Texas. Acme and its affiliated building products companies are part of Berkshire Hathaway, Inc., headed by famed investor Warren Buffett.