Founded by current president and CEO, John Price, in 1986, the company is primarily a distribution service for site development contractors. The company currently has two locations, one near Detroit and another in Grand Rapids, Mich., the release stated.
John Dowdell, president of Hanes, said: “With their focus on distribution of geotextile, erosion control, and stormwater products, Price and Company is an excellent operational fit with Hanes Geo Components. [Their] outstanding reputation as an ethical and well-managed business team also makes them an excellent cultural fit to our organization.”
John Price said: “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 said: “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 and Oklahoma City, as well as expanding operations in Salt Lake City. 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 stormwater products.”
Hanes Geo Components distributes geotextile, erosions control, and stormwater management products through 29 North American locations, the release said. It is a business segment of Hanes Companies, a wholly owned subsidiary of Missouri-based Leggett & Platt.