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Northwoods Lumber, Blackduck, Mn., has acquired Peterson Lumber, Thief River Falls, Mn., as its third location.
Peterson Lumber is a family-owned lumberyard and hardware store that has been a staple in the Thief River Falls community for 61 years. Northwoods Lumber opened in 1973 and added a store in Bemidji, Mn., in 1993.
Peterson Lumber was originally founded in 1964 by John Peterson. His sons, Brian and Gordy Peterson purchased the business from their father in 1982, and have ran the business together since then. As the two began considering retirement, finding a successor that could carry on the same small business values that have made them successful was vital. When Northwoods Lumber expressed interest in the acquisition, it made their decision much easier.
Northwoods Lumber owner Daryl Lundberg shared his appreciation for what Peterson Lumber has built in their community: “Independent lumberyards are becoming fewer and fewer in our industry. The Petersons have navigated a volatile industry for decades and have managed to build solid customer relationships that have kept them successful. There are a lot of similarities in our business values, so this acquisition made sense when we decided to expand.”
Peterson Lumber serves both professional contractors and do-it-yourselfers, with a small hardware store/showroom and fully operational lumberyard. They provide a variety of tools, building materials, and home improvement products, both in stock and special ordered.
