Doman Building Materials Group Ltd. (TSX:DBM) has added another American sawmill to its portfolio of Canadian and American mills and manufacturing and distribution plants.
Doman today announced it has acquired the CM Tucker Lumber Companies, LLC sawmill in South Carolina for $344 million (US$255 million).
Founded in 1920, Tucker Lumber is headquartered in Pageland, South Carolina and employs 425 people in three locations. The Pageland facility includes a specialty sawmill, dry kilns, treating plants, remanufacturing operations and distribution facilities.
Doman already owns three lumber mills in Texas and one in Arkansas.
“Tucker Lumber’s operations are highly complementary to the company’s existing U.S. Central and West Coast operations without overlap,” Doman said in a press release.
“We are very excited with the addition of Tucker Lumber to the Doman Group of companies,” said Doman CEO Amar Doman. “The transaction is a great complement to our existing U.S. operations while further advancing our growth strategy, developing a leadership position and expanding our footprint into ten previously unserved states.”
“With this transaction, our U.S. footprint now extends from coast-to-coast plus Hawaii, and we proudly operate 37 treating plants across our system.”
