Hancock Lumber announced today its plans to acquire Winnipesaukee Lumber, an independent, family-owned building materials supplier that has operated in Wolfeboro, New Hampshire since 1985. With a tentative closing date of 11/1/21, the two companies plan to work together in the coming months to ensure a smooth transition for their employees and customers, carrying on the Quinby family legacy. Established in 1848, Hancock Lumber is a seventh-generation, integrated forest products company who is passionate about its people-first and values driven culture.
“I’m personally thrilled to welcome Winnipesaukee Lumber into the Hancock Lumber family,” said Kevin Hancock, Hancock Lumber’s CEO. “Dick and Dianne Quinby have made an indelible 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. From the very first time Dick and Dianne welcomed me into their home, I knew this was something we wanted to make happen. Our team could not be more excited about this acquisition for the long-term benefit of both companies.”
Winnipesaukee Lumber is a great fit for Hancock Lumber for both strategic and cultural reasons. Strategically, both companies are highly focused on contractor sales, high-quality products, and personalized service. Geographically, their location in Wolfeboro complements Hancock’s existing locations in North Conway, Bridgton, and Kennebunk and allows Hancock Lumber to offer a strong set of products, services, and stores from the heart of New Hampshire’s lakes and mountains. Finally, the family business culture that Winnipesaukee Lumber is built upon matches Hancock’s own values and mission in terms of employee-led teams and personalized service experiences.
With this second acquisition in 2021, Hancock Lumber remains focused on tactical growth. Being in the lumber business for nearly 175 years says more about their commitment to the future than it does their past. Joining forces with the Winnipesaukee Lumber team represents a unique opportunity for Hancock to extend its market from New Hampshire’s north country down to the seacoast area of Southern Maine and New Hampshire. Hancock acquired Lapointe Lumber in early May, opened a new lumberyard and kitchen design showroom in Saco last August, and become Maine’s first retailer to own their own roof and floor truss manufacturing facility with their 2018 acquisition of Mainely Trusses.
Hancock’s President + CFO, Paul Wainman, commented on the company’s announcement, “To have Dick and Dianne’s trust and confidence that Hancock Lumber is the right partner to carry on their family’s legacy on means everything. Any strategic opportunity we entertain must be a cultural fit first, and this partnership is no exception. Our team looks forward to growing with Winnipesaukee Lumber’s existing employee, customer, and vendor base and continuing to offer them all the best possible experience.”
Hancock’s eleven existing lumberyards, nine kitchen design showrooms, three sawmills, truss and wall panel manufacturing facilities, and timberlands will provide the Winnipesaukee team with an additional, unique set of manufacturing and distribution resources that can be added to its existing product and service offerings catering to their high-end residential contractors and subcontractors.
“Being in this business for over sixty years, starting our own lumber company in Wolfeboro, and building our business in New Hampshire and Maine has been a life-long commitment,” said co-owner Dick Quinby. “When the time came to retire, we decided the next best step was to sell our business. From our first meeting together, we knew Hancock Lumber was the right fit—they are a local, family-owned business whose culture and values are completely aligned with ours and we could not be happier about this partnership for the future. We feel we found the partner that will care for and protect our wonderful employees and customers as we do.”
Hancock Lumber operates high-efficiency sawmills, lumberyards, component manufacturing facilities, and full-service kitchen design showrooms. The company’s mission is to create a work environment that recognizes employees as human beings and ultimately enhances the lives of everyone who works there. Led by their 600 employees, Team Hancock is a multi-year recipient of the ‘Best Place to Work in Maine’ award who just announced it received the accolade for the eighth consecutive year. Leadership is encouraged at every position in the company, and the team strives to create a workplace where employees feel empowered, respected, and listened to. Established in 1848, Team Hancock is a seventh-generation, family-owned integrated forest products company who is passionate about its people-first and values driven culture.
Tags: Acquisition, Family Legacy, Growth, New Hampshire Market, Team Hancock, Winnipesaukee Lumber
This post was written by Erin Plummer