Hancock Lumber Announces Plans to Acquire Madison Lumber Mill
Two of New England’s top performing eastern white pine manufacturing facilities will be stronger together as Hancock Lumber announces its plans to acquire Madison Lumber Mill. Hancock Lumber’s eastern white pine operations will expand to four mills with its first sawmill acquisition in over twenty years. While Hancock Lumber will be purchasing Madison Lumber Mill following the expected September 30 closing date, the Madison, NH based location will continue to operate under the Madison Lumber Mill name. A synergistic opportunity for both companies, the plan is to keep Madison Lumber’s employees, manufacturing systems, customer relations, and products produced unchanged.
“The addition of Madison Lumber is filled with synergy for both companies. The current owners, Kim Moore and Jim Smith, have built an exceptional company. When you find caring owners that are looking for an exit strategy that can preserve and perpetuate their love for their business, employees, industry, and customers – well, it’s a win-win,” said Hancock Lumber CEO, Kevin Hancock. “Hancock and Madison combine to offer a dynamic set of capabilities within the eastern white pine industry for log suppliers, customers, and employees. This is a rare opportunity, and we are excited to maximize its full potential for the benefit of everyone associated with both companies. Our commitment to eastern white pine takes a long view and this partnership enhances that view.”
Located an hour west of Hancock Lumber’s headquarters in Casco, Maine, Madison Lumber Mill is estimated to be the sixth largest manufacturer of eastern white pine. In addition to producing pine boards and products, the company operates a significant wholesale division. Current co-owners, Kim Moore and Jim Smith purchased the former International Paper mill in 2001. Hancock Lumber last acquired an eastern white pine operation when the company purchased the Chadbourne Sawmill in Bethel, Maine in 2000.
Adding this fourth mill to its portfolio will make Hancock Lumber the largest eastern white pine producer in the United States, expanding not only their manufacturing capacity, but also their talent with the addition of Madison Lumber Mill’s sales, operations, and log procurement teams. General Manager John Fuller, along with all of Madison Lumber Mill’s employees, will remain part of the team while current owners Moore and Smith will remain during a transitional period. For Madison Lumber Mill employees, customers, and vendors Monday, October 3, will be business as usual.
Being in the lumber business since 1848 says more about Hancock Lumber’s commitment to the future than it does about their past. Today the company is a seventh-generation, family-owned integrated forest products company who is passionate about its people-first and values driven culture. Operating high-efficiency sawmills, lumberyards, component manufacturing facilities, and full-service kitchen design showrooms, Team Hancock is led by their 650 employees and has been named a ‘Best Place to Work in Maine’ since 2014. Visit www.HancockLumber.com to learn more.
Erin Plummer – Chief Marketing Officer – firstname.lastname@example.org – (207) 627-2154
Source: Hancock Lumber Company, Inc.