Canada’s Doman Expands in U.S. After Buying Texas Lumber Firm

Canada’s Doman Building Materials Group Ltd. bought Hixson Lumber Sales for $375 million to expand its U.S. operations as strong homebuilding across North America fuels demand for wood.

The all-cash purchase of the Dallas-based lumber company will triple Doman’s U.S. sales and immediately add to earnings and cash flow, the Vancouver-based company said Friday in a statement. Hixson, a family-owned firm, is the leading wholesaler and manufacturer of lumber and treated lumber operating in central U.S., with 19 plants, five sawmills, a fleet of trucks and 1,100 employees, said the company previously known as CanWel.

Chief Executive Officer Amar ...