Content area
Full text
The lumber dealer is banking on acquisition, internal expansion and its reputation for service to remain at the top of the game
Be it consolidation, e-commerce, acquisition or expansion, if it means staying on top of the building materials market, Foxworth-Galbraith has thrown its Stetson into the ring.
The 99-year-old building materials dealer, which was named this year's Multi-unit Pro Dealer of the Year, plans continued expansion and acquisition to keep up with the consolidating industry and has set high goals for itself in the next decade. As it grows, however, the company is committed to continuing its focus on pro-oriented sales, which make up about 80 percent of the company's total business.
"Our main customer is the pro contractor and subcontractor," company president Walter Foxworth says. "We're not looking for 500 people to come in [to our stores] and spend $5. We want five people to come in and spend $500."
Foxworth-Galbraith has 55 retail operations and 80 total locations, including manufacturing and distribution. The company runs two different businesses: commodity-oriented stickyards in major metro areas and home centers in outlying areas.
Foxworth-Galbraith's expansion plans are twofold. The company wants to open more locations in the four states where it currently operates and expand to other parts of the country. The most likely destinations include states contiguous to current locations - which sweep west out of Texas through New Mexico into Arizona and north to Colorado - or in the Southeast because, Foxworth says, that's where the majority of U.S. growth is going to occur.
How it got here and where it's going Last year, when it added 14 new yards and opened three new plants, the...