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Patrick Industries, Inc. Completes Acquisition of Elkhart Composites, Inc.

1. Patrick Industries acquires Elkhart Composites, enhancing composite offerings. 2. Elkhart Composites specializes in lightweight, sustainable composite panels for the RV industry. 3. The acquisition aligns with Patrick's focus on innovation and quality in materials. 4. Patrick's growth strategy includes partnerships with Thor branded companies.

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Why Bullish?

The acquisition strengthens Patrick's market position, suggesting potential revenue growth. Similar past acquisitions have led to increased stock performance.

How important is it?

The acquisition is a key move that can significantly impact Patrick's operational capabilities. Mergers and acquisitions often reshape market landscapes.

Why Long Term?

The strategic acquisition will yield benefits over time as market integration occurs. Historically, such investments have proved fruitful for sustained growth.

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THOLCIIBWEN
, /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") announced today that it has completed the acquisition of Elkhart, Indiana-based Elkhart Composites, Inc., a Thor Industries owned company. Marketing its products under the "Elkboard" brand name, Elkhart Composites manufactures composite products for sidewalls and ceilings, which are durable, lightweight, sustainable alternatives to wood products, for sale to Thor branded companies and other external customers. "We are excited about the opportunity to further partner with Thor as we expand Patrick's own high-quality composite panel solutions to our markets," said Andy Nemeth, Chief Executive Officer of Patrick. "Elkhart Composites' products will join our growing portfolio of brands that supply composite materials, further aligning our commitment to excellence and serving our RV and Marine OEM customers at the highest level." About Patrick Industries, Inc. Patrick (NASDAQ: PATK) is a leading component solutions provider serving the RV, Marine, Powersports and Housing markets. Since 1959, Patrick has empowered manufacturers and outdoor enthusiasts to achieve next-level recreation experiences. Our customer-focused approach brings together design, manufacturing, distribution, and transportation in a full solutions model that defines us as a trusted partner. Patrick is home to more than 85 leading brands, all united by a commitment to quality, customer service, and innovation. Headquartered in Elkhart, IN, Patrick employs approximately 10,000 skilled team members throughout the United States. For more information on Patrick, our brands, and products, please visit www.patrickind.com. Forward-Looking Statements This press release contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any projections of financial performance or statements concerning expectations as to future developments should not be construed in any manner as a guarantee that such results or developments will, in fact, occur. There can be no assurance that any forward-looking statement will be realized or that actual results will not be significantly different from that set forth in such forward-looking statement. Information about certain risks that could affect our business and cause actual results to differ from those expressed or implied in the forward-looking statements are contained in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company's Forms 10-Q for subsequent quarterly periods, which are filed with the Securities and Exchange Commission ("SEC") and are available on the SEC's website at www.sec.gov. Each forward-looking statement speaks only as of the date of this press release, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date on which it is made. SOURCE Patrick Industries, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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