Riverhead (N.Y.) Building Supply has reached a tentative agreement to acquire JT's Lumber Co., a 100-year-old LBM dealer with locations in North Kingstown and Middletown, R.I., Riverhead president Edgar Goodale confirmed to ProSales today.
Goodale said the deal should close by mid-October. He said both JT's locations will continue to operate under their current name, and Riverhead will attempt to retain as many employees as possible.
Riverhead ranks 22nd on this year's ProSales 100, with $210 million in sales in 2008, 75% of them to pros.
JT's was founded in 1909 by James T. O'Connell and has remained family-owned for four generations. Aside from the usual lumberyards, its locations also have design centers.