Hancock Lumber announced plans to acquire Madison Lumber Mill, expanding Hancock’s eastern white pine operations to four mills. Madison Lumber Mill’s Madison, N.H., location will continue to operate under the company brand name, according to a news release. Hancock said it plans to keep Madison Lumber’s employees, manufacturing systems, customer relations, and products 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,” Hancock Lumber CEO Kevin Hancock said in a news release. “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.”
In addition to producing pine boards and products, the Madison Lumber Mill operates a wholesale division. Co-owners Kim Moore and Jim Smith purchased the former International Paper mill in 2001.
Hancock Lumber said the acquisition will not only expand the company’s manufacturing capacity, but also its talent through the addition of Madison Lumber Mill’s sales, operations, and log procurement teams. Madison Lumber general manager John Fuller will remain part of the team while current owners Moore and Smith will remain during a transitional period.
Hancock Lumber is a seventh-generation, family-owned business established in 1848. The dealer operates 11 lumberyards, nine kitchen design showrooms, four sawmills, truss and wall panel manufacturing facilities, and a timberland company.
