Ganahl Lumber Company to Acquire the Assets and Real Estate of Northridge Lumber Company
Ganahl Lumber Company is pleased to announce that it has acquired the assets and Real Estate of Northridge Lumber in an all-cash deal that is set to close in the next 60 days. Northridge Lumber is a single location pro-oriented lumber dealer with an excellent location and valued reputation with contractors in the area. This will be Ganahl’s first physical location in the San Fernando Valley. Brad Satterfield, Ganahl COO, remarked that “We have been shipping millions of feet of lumber and other building materials to our customers in the San Fernando Valley for over a decade using our other locations, and providing our customers a convenient location to pick up materials has been something we have been working towards for a long time.”
Tom Barclay, Ganahl CSO added, “We are excited to provide current Northridge Lumber customers access to the existing Ganahl network of 10 locations across Southern California as well as providing existing Ganahl customers an additional location in the San Fernando Valley. We continue to add conveniently located facilities to help our customers quickly pick up the items they need and get back on the job.”
“I am truly excited to welcome the current Northridge Lumber employees to the Ganahl family of employee-owners,” said Ganahl Lumber CFO Dan Delaney. In 1976, Ganahl Lumber began an Employee Stock Ownership Plan (“ESOP”) which allowed the employees to become owners. Today, all of Ganahl employees either are, or will become, part owners of Ganahl Lumber through the ESOP. From mill workers, salespeople, and lumber handlers, to truck drivers, cashiers, and credit staff, each person is a vital part of the company’s ownership, operation and success.
Dan added, “We currently have over 150 employees that have been with the Company for at least 20 years which speaks to the success of our guiding principles. Ganahl Lumber Company has been family owned since the day it began passing from generation to generation in the Ganahl family. We are now in the process of transitioning from our fourth to fifth generation of ownership, a milestone that very few companies make.”
Ganahl Lumber has been operating the Southern California market since 1884 and its growth and success cycled up and down through the roaring 20s, the great depression, WW2 and the birth of the baby boomers. In 1978, Ganahl Lumber opened a new facility in Anaheim which was revolutionary in its day and still an outstanding operation. Oddly enough, this timing coincided with the beginning of a five decade drop in the number of houses built in Southern California which in turn drove a large drop in the number of lumberyards located in Southern California with over 100 individual yards closing between 1982 and today. During the same period of time, Ganahl Lumber has expanded from 3 yards in 1982 to soon to be 11 yards including Northridge.
Since then, Ganahl Lumber has built new or completely re-built nine facilities with a tenth one scheduled to open in San Juan Capistrano in 2023. This has happened during a period where almost no new lumberyards have been built in Southern California. Peter Ganahl, Ganahl Lumber CEO commented, “Our next step is to design and build a modern, efficient, and service-oriented facility that will provide the many customers in the San Fernando Valley a location to quickly pick up their materials.”
Peter Ganahl stated, “We have always been a local Southern California company and there is plenty more opportunity ahead so we intend to stay right here. This acquisition provides another location in our Southern California market to make our products and services easily accessible to our customers. We believe the local LA based contractors will be better served by a company that is locally owned by a family and its employee/owners who live and work right here.”
Source: Ganahl Lumber Company