Specialty building products distributor GMS completed its previously disclosed acquisition of New York City-based building materials distributor Kamco Supply Corp.

For the twelve months ended Dec. 31, 2023, Kamco generated approximately $235 million in annual revenue from its four established distribution facilities and its recently opened Bronx greenfield. GMS believes this Bronx location will “meaningfully add” to Kamco’s top-line growth as its operations mature, company officials said in a March 4 news release.

The $321.5 million purchase expands GMS’ wallboard distribution and geographic footprint.

“Bringing Kamco into the GMS family of brands expands our share in our core products and provides geographic expansion in the highly-attractive New York City market, advancing two of our key strategic priorities,” GMS President and CEO John Turner Jr. said.

GMS ranked No. 9 in MDM’s 2023 Top Building Materials/Construction Distributors list. The Tucker, GA-based company posted total 3Q 2023 sales of $1.3 billion, an increase of 1.9% year-over-year, and a net profit of $52 million, down from $65 million a year earlier.