Who Owns SiteOne Landscape Supply Company?

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Who Owns SiteOne Landscape Supply?

Understanding the ownership structure of a company is key to grasping its strategic direction and how it operates. SiteOne Landscape Supply, Inc., a major player in the landscape supply industry, has a history that includes significant shifts in its ownership, notably its acquisition by a private equity firm and its subsequent public offering.

The journey of SiteOne Landscape Supply, Inc. from its inception as a division of a larger corporation to its current status as a publicly traded entity reveals a fascinating evolution of control and investment. This transformation has significantly influenced its market approach and operational scale, impacting everything from product offerings, such as those analyzed in the SiteOne Landscape Supply BCG Matrix, to its overall business strategy.

Delving into who owns SiteOne Landscape Supply is crucial for investors and industry observers alike. Initially established in 2001 as John Deere Landscapes, the company was later acquired by Clayton, Dubilier & Rice (CD&R) in 2013. This acquisition marked a pivotal moment, leading to its rebranding as SiteOne Landscape Supply and its eventual Initial Public Offering (IPO) in 2016, making it a publicly traded company. As of fiscal year 2024, SiteOne operates over 680 branches across North America, reporting net sales of $4.54 billion for the same period. By July 18, 2025, its market capitalization stood at $5.57 billion, underscoring its substantial presence. The SiteOne Landscape Supply parent company structure now reflects a broad base of public shareholders, alongside significant institutional investors and insider holdings, all of whom play a role in its corporate governance and future direction.

The origins of SiteOne Landscape Supply trace back to 2001 when it was established as John Deere Landscapes, a wholly-owned division of Deere & Company. While specific details regarding individual founders and their initial equity stakes are not publicly disclosed, the formation of this entity was a strategic move by Deere & Company to enter and consolidate the wholesale landscape distribution market. This strategic entry was bolstered by significant early acquisitions, including McGinnis Farms, a nursery wholesaler based in Alpharetta, Georgia, and Century Rain Aid, a distributor of landscape and irrigation supplies located in Madison Heights, Michigan. These acquisitions rapidly established a substantial network, encompassing over 200 stores across both the United States and Canada.

Further expansion occurred in 2007 with the acquisition of LESCO, Inc., an Ohio-based supplier specializing in lawn care and landscape products. This acquisition effectively doubled the company's store locations and broadened its product offerings. During this formative period, as a division of a larger corporation, the ownership structure remained centralized under Deere & Company. The company's initial vision was to become a dominant national player in the landscape supply sector, a goal clearly reflected in its aggressive acquisition strategy and the consolidated control maintained by its corporate parent.

Early Corporate Ownership

SiteOne Landscape Supply began its journey in 2001 as John Deere Landscapes, a division fully owned by Deere & Company. This marked a strategic entry into the wholesale landscape distribution market.

Foundational Acquisitions

Key early acquisitions included McGinnis Farms and Century Rain Aid. These moves quickly established a network of over 200 stores across the U.S. and Canada.

Expansion Through LESCO

In 2007, the acquisition of LESCO, Inc. significantly expanded the company's footprint. This move approximately doubled its existing store locations.

Consolidated Control

As a division of Deere & Company, the ownership structure was centralized. Individual equity stakes were not a feature of this early phase.

Strategic Vision

The company's inception was driven by a strategic vision to create a national presence in landscape supply distribution. This was executed through targeted acquisitions.

Market Consolidation

The early strategy focused on consolidating the wholesale landscape distribution market. This was achieved by integrating acquired businesses into a unified network.

Early Ownership Structure

The initial ownership of the company that would become SiteOne Landscape Supply was entirely within Deere & Company. This corporate structure meant that early growth and expansion were funded and directed by the parent company, rather than through external investment rounds or founder equity. The focus was on building scale through strategic acquisitions to establish a dominant position in the landscape supply industry. Understanding the Target Market of SiteOne Landscape Supply provides context for these early strategic decisions.

• The company began as John Deere Landscapes in 2001.
• Deere & Company was the sole owner during this initial phase.
• Strategic acquisitions were the primary method of growth.
• The goal was to consolidate the wholesale landscape distribution market.

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A pivotal moment in the ownership journey of SiteOne Landscape Supply occurred in October 2013 when Clayton, Dubilier & Rice (CD&R) acquired a controlling interest, approximately 60%, in John Deere Landscapes from Deere & Company for $465 million. At that time, Deere & Company retained a 40% stake, marking the transition of the business from a division of a larger corporation to an independent entity under private equity management.

Following this significant acquisition, the company was rebranded as SiteOne Landscape Supply in 2015, solidifying its new, independent identity. The company then took a major step by completing its Initial Public Offering (IPO) on the New York Stock Exchange on May 12, 2016, trading under the ticker symbol 'SITE'. This public offering successfully raised approximately $241.5 million, providing crucial capital for its ambitious expansion and acquisition strategies.

As of July 18, 2025, SiteOne Landscape Supply boasts a market capitalization of $5.57 billion, with 44.8 million shares outstanding. The current ownership landscape is predominantly shaped by institutional investors, who collectively hold about 56.52% of the company's stock. Prominent institutional shareholders include Vanguard Group Inc, which holds 4,025,472 shares representing 8.98% of the company, alongside other major players like Price T Rowe Associates Inc /md/, Kayne Anderson Rudnick Investment Management Llc, T. Rowe Price New Horizons Fund, Inc., T. Rowe Price Investment Management, Inc., Wasatch Advisors Inc, BlackRock, Inc., and Baillie Gifford & Co. Insiders, such as executives and board members, maintain a smaller but significant ownership of approximately 1.58% as of April 2025. The remaining 41.90% is held by public companies and individual investors. This evolution from private equity control to a publicly traded company with a broad institutional investor base has been instrumental in fueling SiteOne's aggressive growth, including its extensive acquisition history, by ensuring access to capital for continued expansion and market consolidation.

SiteOne Landscape Supply: Ownership Snapshot

SiteOne Landscape Supply is now a publicly traded entity with a diverse ownership structure, primarily driven by institutional investors.

• Institutional investors hold approximately 56.52% of shares.
• Vanguard Group Inc is a significant institutional shareholder with 8.98%.
• Insiders own a smaller stake of about 1.58%.
• Public companies and individual investors hold the remaining 41.90%.

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The governance of SiteOne Landscape Supply is overseen by its Board of Directors, a group comprising both executive leadership and independent members. Doug Black holds the dual roles of Chief Executive Officer and Chairman of the Board, a position he has occupied as CEO since April 2014 and as Chairman since June 2017. Supporting the executive leadership are John Guthrie, serving as Executive Vice President and Chief Financial Officer, and Scott Salmon, Executive Vice President of Strategy and Development. These individuals are instrumental in guiding the company's strategic direction and operational execution.

The board also benefits from the expertise of several independent directors, who provide crucial oversight and ensure a balance of shareholder interests. These directors include William W. Douglas, III, who serves as the Lead Independent Director, alongside Jack L. Wyszomierski, Jeri L. Isbell, Fred M. Diaz, Larisa J. Drake, W. Roy Dunbar, and Judith S. Sansone. Ms. Sansone joined the board in May 2024, further diversifying the board's experience. While specific board seats are not designated for representatives of major institutional shareholders, the inclusion of independent directors is a key component of robust corporate governance.

In terms of voting power, SiteOne Landscape Supply operates under a standard one-share-one-vote principle for its common stock, a common structure for publicly traded companies. This means that each share of common stock typically carries one vote on matters presented to stockholders. The company has announced plans to propose a significant change to its corporate governance structure at its 2025 annual meeting of stockholders. This proposed change involves eliminating the current classified board structure, where directors are elected for staggered terms, and moving to a system where all directors are elected annually. This initiative is intended to increase director accountability and responsiveness to shareholders.

Corporate Governance Evolution

SiteOne Landscape Supply is proposing a shift in its board structure to enhance shareholder engagement. This move reflects a broader trend towards greater director accountability.

• Proposal to eliminate classified board structure.
• All directors to be elected annually.
• Aims to increase accountability.
• Enhance responsiveness to shareholders.

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Over the past three to five years, SiteOne Landscape Supply has significantly reshaped its ownership profile through a robust strategy of both organic expansion and targeted acquisitions. This approach has bolstered its market presence and broadened its product portfolio. In fiscal year 2024 alone, the company successfully integrated seven acquisitions, collectively representing approximately $200 million in trailing twelve-month sales. As of April 4, 2025, the company's most recent acquisition was Green Trade Nursery, continuing its aggressive expansion. Since 2014, SiteOne has completed a remarkable 96 acquisitions, aiming to solidify its position in the roughly $25 billion wholesale landscaping products market.

Leadership stability is a key factor in SiteOne's ongoing growth narrative. Doug Black continues to serve as CEO and Chairman, a role he has held since 2014, guiding the company's ambitious expansion plans. Regarding ownership, insider holdings remained steady at 1.70% as of April 2025. CEO Doug Black personally holds 1.39% of the company's shares, which were valued at approximately $75.2 million as of February 25, 2025. Institutional ownership stands at a substantial 106.89% in April 2025, indicating a strong backing from institutional investors, though mutual fund holdings saw a slight decrease from 99.63% to 98.96% during the same period.

Industry trends are also shaping SiteOne's trajectory, with a notable increase in institutional ownership and a broader consolidation trend within the landscape supply sector, including the growing influence of private equity firms. SiteOne anticipates a more stable pricing environment by 2025 and is focused on integrating its recent acquisitions while simultaneously enhancing operational efficiencies. The company reported net sales of $4.54 billion for the full year 2024, marking a 6% increase from the prior fiscal year, largely attributed to its acquisition strategy. For 2025, SiteOne projects low single-digit organic daily sales growth and anticipates Adjusted EBITDA to be in the range of $400 million to $430 million, expecting improved margins despite ongoing commodity price deflation. Furthermore, the company had a share repurchase authorization for up to $400.0 million, with $312.0 million remaining as of December 29, 2024. During fiscal 2024, SiteOne repurchased 366,443 shares at an average price of $140.97 per share.

Acquisition Strategy Impact

SiteOne's aggressive acquisition strategy, with 96 deals since 2014, is a primary driver of its growth. These acquisitions, including seven in fiscal 2024 totaling $200 million in sales, are crucial for expanding market share. This approach directly influences SiteOne Landscape Supply ownership trends by integrating new entities and potentially altering the capital structure.

Leadership and Shareholder Structure

CEO Doug Black's consistent leadership since 2014 provides strategic direction. The stable insider ownership of 1.70%, with the CEO holding 1.39%, alongside strong institutional backing at 106.89%, highlights a well-supported company. This shareholder information is vital for understanding SiteOne Landscape Supply investors.

Financial Outlook and Share Repurchases

The company's financial projections for 2025 include low single-digit organic daily sales growth and Adjusted EBITDA between $400-430 million. SiteOne's commitment to shareholder value is evident through its share repurchase program, with $312.0 million remaining authorization as of December 29, 2024. This reflects a focus on enhancing SiteOne Landscape Supply stock value.

Market Dynamics and Future Expectations

Anticipating a more stable pricing environment in 2025, SiteOne is focused on operational efficiency and integrating acquisitions. The company's Growth Strategy of SiteOne Landscape Supply is designed to navigate industry consolidation and capitalize on market opportunities. Understanding these dynamics is key to comprehending who owns SiteOne Landscape Supply and its future direction.

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