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Three leading building supply companies in Vermont’s Upper Valley have agreed to unite under single ownership following back-to-back transactions.
Bethel Mills, Bethel, Vt., has agreed to purchase Fogg’s Hardware & Building Supply, Norwich, Vt., as well as three-unit Oakes Brothers Inc., with stores in Norwich, Fairlee and Woodsville, Vt. The deals are both set to close in April.
Bethel Mills, which already has stores in Randolph, Taftsville, Brandon and Hancock, Vt., and a distribution center in Bethel, expected the acquisitions to close by April.
The first sale will allow co-owner Alan Fogg to retire, while Oakes Bros. owner Neil Oakes intends to stay on “for a couple years” to oversee the kitchen and bath design department.
The new locations reportedly fit well with Bethel Mills’ expansion strategy. “Their experienced team, location, product mix, and customer base align very well with our existing stores,” said Bethel Mills CFO Claudia Sherwin.