Hancock Lumber announced its plans to acquire Winnipesaukee Lumber, an independent, family-owned building materials supplier in Wolfeboro, N.H. With a tentative closing date of November 1, Hancock said the two companies plan to work together in the upcoming months to ensure a smooth transition for employees and customers. The financial terms of the deal were not disclosed.
“I’m personally thrilled to welcome Winnipesaukee Lumber into the Hancock Lumber family,” Hancock Lumber CEO Kevin Hancock said in a prepared statement. “Dick and Dianne Quinby have made an incredible contribution to the lumber industry in both New Hampshire and Maine since Dick began his career in 1959. It’s an honor to build off their legacy. Our team could not be more excited about this acquisition for the long-term benefit of both companies.”
Hancock Lumber said Winnipesaukee Lumber is a “great fit” for strategic and cultural reasons. Both companies are focused on contractor sales, high-quality products, and personalized service, according to Hancock, and Winnipesaukee location complements Hancock’s existing locations in North Conway, N.H., Bridgton, Maine, and Kennebunk, Maine. Hancock said the family business culture that Winnipesaukee Lumber is built upon matches Hancock’s values and mission in terms of employee-led teams and personalized service experiences.
“To have Dick and Dianne’s trust and confidence that Hancock Lumber is the right partner to carry on their family’s legacy means everything,” Hancock president and CFO Paul Wainman said. “Any strategic opportunity we entertain must be a cultural fit first, and this partnership is no exception.”
The acquisition is the second in 2021 for Hancock Lumber after it acquired Lapointe Lumber in May. The dealer also opened a new lumberyard and kitchen design showroom in Saco, Maine in August of 2020.
Hancock Lumber is a seventh-generation, family-owned business established in 1948. The dealer operates 11 lumberyards, nine kitchen design showrooms, three sawmills, truss and wall panel manufacturing facilities, and a timberland company.
