Family-Owned Businesses Unite: Hancock Announces Acquisition of Central Maine Lumberyard
Two long-standing family businesses are joining forces with Hancock Lumber’s announcement of their plans to acquire Lapointe Lumber, a fourth-generation independent building materials supplier that’s operated in the Augusta and Gardiner markets since 1947. Established in 1848, Hancock Lumber is a seventh-generation, integrated forest products company who is passionate about its people-first and values driven culture.
“Hancock Lumber is excited to be uniting with the employees, customers, suppliers, and communities served by Lapointe Lumber,” said company CEO, Kevin Hancock. “Lapointe has a long-standing family-business legacy of integrity and quality. The company represents the essence of what’s best about doing business in Maine. We’re honored to help shape and support the future of that already strong tradition.”
Hancock Lumber remains focused on tactical growth, placing their emphasis on getting better over getting bigger. Being in the lumber business for nearly 175 years says more about their commitment to the future than it does their past. The Lapointe acquisition represents a unique and well-timed opportunity for Hancock to extend its market into Augusta, Gardiner, and the surrounding capital district communities. Hancock opened a new lumberyard and kitchen design showroom in Saco last August and become Maine’s first retailer to own their own roof and floor truss manufacturing facility with their 2018 acquisition of Mainely Trusses.
Hancock’s President + CFO, Paul Wainman, commented on adding two more locations, “Expansion into this territory is a natural extension for us. Our team looks forward to growing with Lapointe’s existing employee and customer base, helping carry forward their family’s legacy. The Lapointe’s have built an incredible business, but more importantly a reputation and culture that align with Hancock Lumber’s.”
Hancock’s nine existing lumberyards, eight kitchen design showrooms, three sawmills, truss and wall panel manufacturing facilities, and timberlands will provide Lapointe with an additional, unique set of manufacturing and distribution resources that can be added to its existing product and service offerings.
“Generational transitions in family business take careful planning and preparing,” said Lapointe Lumber’s President, Peggy Lord. “When our family decided our next move would be to sell, it was imperative we sought out and selected the right partner to help bring Lapointe into the next generation. Thankfully our first choice was interested in learning more. Simply put, Lapointe Lumber is a great fit for Hancock Lumber and likewise, Hancock Lumber is a great fit for Lapointe.”
From their sawmill roots to their people-first cultures, these two multi-generational family-owned lumber businesses will be stronger together. “From our first meeting with the Hancock team we knew this could turn into something really special,” Dick Tarr, Lapointe’s Vice-President, said. “Our culture and values could not be more aligned, and we’re thankful to have found the right partner.”
Hancock Lumber operates high-efficiency sawmills, lumberyards, component manufacturing, and full-service home design showrooms for professional builders and homeowners looking to make their construction and remodeling projects more innovative, adaptive, and on-demand. Their mission is to create a work environment that first and foremost recognizes employees as human beings and ultimately enhances the lives of everyone who works at the organization. Led by their team of over 550 employees, the company has been awarded ‘Best Place to Work in Maine’ for seven consecutive years. To learn more, please visit www.HancockLumber.com.