The Wolf Organization, the York, Pa.-based company that boasted of 18 retail locations two years ago, is completely exiting the lumberyard business.
The company, which operated its stored under The Lumber Yard name, revealed it was selling its York, Pa., and Hagerstown, Md., locations to John H. Myers & Sons, the five-unit dealer, also based in York. Although terms of the deal were not disclosed in a Nov. 17 news release, it's expected to be completed by the end of the year.
In a telephone conversation with The Wolf Organization, ProSales has learned that the company is also in talks to sell two of its four remaining yards to John H. Myers, with the remaining two possibly being sold to regional independents, according to Jim Groff, senior vice president of the Wolf Organization.
At the start of 2007, the Wolf Organization operated 18 yards, but that number dropped to 10 by the start of 2008 while sales fell 15.4% to $110 million.
John H. Myers will combine the York and Hagerstown yards with existing Myers facilities in York and Chambersburg, Pa. The dealer also plans to offer positions to all 73 employees of The Lumber Yard impacted by the sale.
"The continuity of employment for employees and source of supply for our customers were top priorities throughout our discussions," said Bob Myers III, the fourth-generation president of Myers & Son.
John H. Myers said the acquisition will give it combined sales of about $85 million for 2008.