Top News Stories of 2024 – Trending in the Distribution Industry
Mergers and acquisitions in the distribution sector are always a hot topic for executives looking to understand how these deals impact competitors, the market, and long-term prospects. In 2024, M&A news involving distributors of industrial, commercial, and building supply products, or manufacturers selling through these channels, saw an increase compared to 2023. We’re diving deeper into this trend next week in our December M&A recap, so keep an eye out for that. Plus, stay tuned for our full-year M&A analysis on MDM Premium.
However, the most viewed news story of 2024 was a class action lawsuit filed on Aug. 23 against three major distributors — Core & Main, Ferguson, and Fortiline Waterworks. The lawsuit alleges that these distributors exploited supply chain disruptions to fix prices and overcharge customers in the U.S.
Coming in as the second most viewed news item was Ferguson’s announcement of three acquisitions within the first two weeks of the year. Ferguson, a top distributor in various categories, completed the acquisition of Harway Appliances, Yorkwest Plumbing Supply in Canada, and Grove Supply in Warminster, PA.
Overall, the Top 30 news stories of the year were dominated by M&A announcements, pending lawsuits, post-acquisition changes, and new C-suite appointments. Check out the top 10 distribution-related news stories of 2024:
1. Class action lawsuit names Core & Main, Ferguson, and Fortiline for alleged price collusion
2. Ferguson starts 2024 with three acquisitions totaling $220 million in revenue
3. True Value is exploring a sale of the company
4. Vallen to purchase Wesco’s Integrated Supply Unit for $350 million
5. American Tire Distributors files for bankruptcy for the second time in six years
6. Report: QXO offers to buy Beacon
7. US Foods acquires IWC and Saladino’s
8. Performance Food Group to acquire Cheney Bros. for $2.1 billion
9. BradyIFS and Envoy Solutions merge to become BradyPLUS
10. Ferguson officially moves its headquarters to the U.S.
For more top news stories of 2024 and other engaging content, check out MDM’s offerings.
