Ferguson Enterprises announced that on November 30, 2005, members of John H. Frischkorn, Jr., Inc.'s employee stock ownership plan voted to approve the merger of Frischkorn with Ferguson. As reported in last month's edition, the two companies had entered into an agreement to merge pending the ESOP's approval.
Frischkorn is a PVF distributor headquartered in Richmond, VA and with 14 locations throughout Virginia, Maryland, North Carolina, South Carolina, Georgia, Maryland and Kentucky. For the fiscal year ending October 31, 2004, the company reported sales of $85 million and has forecasted the current fiscal year sales to approach $100 million. Frischkorn employs 215 associates, and Frischkorn's senior management team, including Larry Pearson, president, and Mike Horner, chief executive officer, will remain with the business.