Core & Main completes acquisition of Canada Waterworks assets

ST. LOUIS - Core & Main Inc. (NYSE:CNM) announced Tuesday it has finalized its previously disclosed acquisition of substantially all assets of Canada Waterworks Inc. and Canada Waterworks Ottawa Inc.

The transaction, which was first announced earlier this year, expands Core & Main’s presence in the Canadian market. Canada Waterworks operates as a distributor of water, wastewater and storm drainage products across Canada.

Core & Main, headquartered in St. Louis, specializes in the distribution of infrastructure products including water, wastewater, storm drainage and fire protection supplies and related services. The company serves municipalities, private water companies and professional contractors across various end markets.

With this acquisition, Core & Main continues to strengthen its North American footprint. The company currently operates more than 370 locations throughout the United States and employs approximately 5,700 associates.

Financial terms and specific details of the transaction were not disclosed in the company’s press release statement.

The acquisition aligns with Core & Main’s strategy of expanding its distribution network and service capabilities in key markets.

In other recent news, Core & Main Inc. reported its Q2 2025 earnings, which fell short of expectations. The company posted an earnings per share (EPS) of $0.70, missing the anticipated $0.79, and generated $2.09 billion in revenue, below the forecasted $2.12 billion. Following these results, several analysts have adjusted their price targets for the company. Truist Securities lowered its price target to $50, citing a modest cut to the company’s fiscal year 2025 guidance. Wells Fargo reduced its price target to $58, noting a narrowed revenue projection and a decrease in expected EBITDA. Wolfe Research set a new price target of $67, expressing caution regarding Core & Main’s revised guidance. Meanwhile, RBC Capital adjusted its target to $62, highlighting concerns over residential market weakness and increased expenses. These developments reflect a cautious outlook among analysts following the company’s recent earnings performance.

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