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Two long-standing family businesses are joining forces with Hancock Lumber’s announcement of their plans to acquire Lapointe Lumber, a fourth-generation independent building materials supplier that’s operated in the Augusta and Gardiner markets since 1947. Established in 1848, Hancock Lumber is a seventh-generation, integrated forest products company who is passionate about its people-first and values driven culture.
Hancock Lumber remains focused on tactical growth, placing their emphasis on getting better over getting bigger. Being in the lumber business for nearly 175 years says more about their commitment to the future than it does their past. The Lapointe acquisition represents a unique and well-timed opportunity for Hancock to extend its market into Augusta, Gardiner, and the surrounding capital district communities. Hancock 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 Lumber is excited to be uniting with the employees, customers, suppliers, and communities served by Lapointe Lumber. Lapointe has a long-standing family-business legacy of integrity and quality. The company represents the essence of what’s best about doing business in Maine. We’re honored to help shape and support the future of that already strong tradition.”
–Kevin Hancock, CEO
Hancock’s President + CFO, Paul Wainman, commented on adding two more locations, “Expansion into this territory is a natural extension for us. Our team looks forward to growing with Lapointe’s existing employee and customer base, helping carry forward their family’s legacy. The Lapointe’s have built an incredible business, but more importantly a reputation and culture that align with Hancock Lumber’s.”
Hancock’s nine existing lumberyards, eight kitchen design showrooms, three sawmills, truss and wall panel manufacturing facilities, and timberlands will provide Lapointe with an additional, unique set of manufacturing and distribution resources that can be added to its existing product and service offerings.
“Generational transitions in family business take careful planning and preparing,” said Lapointe Lumber’s President, Peggy Lord. “When our family decided our next move would be to sell, it was imperative we sought out and selected the right partner to help bring Lapointe into the next generation. Thankfully our first choice was interested in learning more. Simply put, Lapointe Lumber is a great fit for Hancock Lumber and likewise, Hancock Lumber is a great fit for Lapointe.”
From their sawmill roots to their people-first cultures, these two multi-generational family-owned lumber businesses will be stronger together. “From our first meeting with the Hancock team we knew this could turn into something really special,” Dick Tarr, Lapointe’s Vice-President, said. “Our culture and values could not be more aligned, and we’re thankful to have found the right partner.”
Hancock Lumber operates high-efficiency sawmills, lumberyards, component manufacturing, and full-service home design showrooms for professional builders and homeowners looking to make their construction and remodeling projects more innovative, adaptive, and on-demand. Their mission is to create a work environment that first and foremost recognizes employees as human beings and ultimately enhances the lives of everyone who works at the organization. Led by their team of over 550 employees, the company has been awarded ‘Best Place to Work in Maine’ for seven consecutive years.
Please contact Erin Plummer, Chief Marketing Officer, for any questions or comments: eplummer@HancockLumber.com
It all started back in 1947 when Wilfred Lapointe bought a small sawmill bordering Rigg’s Brook on North Belfast Road in Augusta. It wasn’t long before two of his sons, Normand and Roland, were working with him at the saw mill and cutting logs in the woods.
In 1955 the two brothers bought the sawmill from their father and began operating it on their own. The purchase included the old sawmill, a few saws, a few logs out back and an empty cash drawer. Because of their hard work and skill Lapointe Lumber survived and prospered. Over the years the business gradually shifted from the sawmill to retail lumber and building material sales. Eventually the sawmill was phased out.
In 1993 Lapointe Lumber built a second store in Gardiner, Maine. The location in Gardiner includes a big hardware store and several large buildings for storing lumber and other building materials. Tim Lord manages the store in Gardiner. With the advent of the new millennium Lapointe Lumber is surviving and thriving with increasing business and record sales. Even with the changes and growth, Lapointe Lumber remains true to one of Normand Sr.’s maxims: “Quality and service are what get it done!”
In 2020 when the family seriously began thinking about the imminent generational transition for the business, the owners decided the next move would be to sell. “It was imperative we sought out and selected the right partner to help bring Lapointe into the next generation. Thankfully our first choice was interested in learning more,” said company president, Peggy Lord.
Lapointe Lumber is a great fit for Hancock Lumber and likewise, Hancock Lumber is a great fit for Lapointe. We look forward to uniting our two companies and building a stronger future together.
From our sawmill roots to our people-first cultures, our two multi-generational family-owned lumber businesses will be stronger together. “From our first meeting with the Hancock team we knew this could turn into something really special,” Dick Tarr, Lapointe’s Vice-President, said. “Our culture and values could not be more aligned, and we’re thankful to have found the right partner.”