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Two of New England’s top eastern white pine manufacturers will be stronger together with Hancock Lumber’s acquisition of Madison Lumber Mill, Madison, N.H.
Hancock Lumber’s eastern white pine operations will expand to four mills with its first sawmill acquisition in over 20 years. After the deal closes, which was expected by Sept. 30, the Madison facility will continue to operate under the Madison Lumber Mill name. The plan is to keep Madison’s employees, manufacturing systems, customer relations, and products produced unchanged.
Hancock CEO Kevin Hancock said, “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.”
Located an hour west of Hancock’s headquarters in Casco, Me., the Madison mill is estimated to be the sixth largest manufacturer of eastern white pine. In addition to producing pine boards and products, the company operates a significant wholesale division. Moore and Smith purchased the former International Paper mill in 2001.
The addition reportedly makes Hancock the nation’s largest eastern white pine producer. GM John Fuller, along with all of Madison’s employees, will remain.