Doman Building Materials Group Ltd. announced the acquisition of CM Tucker Lumber Companies, LLC for approximately $255 million. The acquisition expands Doman’s footprint into ten new states and adds significant capacity to its U.S. operations, reinforcing its leadership in the lumber industry.
CM Tucker Lumber, a family-owned business, operates three large lumber treating plants, a specialty sawmill, and a trucking fleet. The transaction is funded through Doman’s existing cash reserves and revolving credit facilities.
CM Tucker Lumber, founded in 1920 and headquartered in Pageland, South Carolina, employs 425 people. Its vertically integrated operations include a specialty sawmill, dry kilns, remanufacturing plants, and distribution centers. Its treating plants in Henderson, North Carolina, and Rock Hill, South Carolina, boost capacity and enable fast service across the Eastern U.S. CM Tucker Lumber produces a wide range of products, including treated lumber, plywood, decking, fence panels, and specialty deck components.
This acquisition enhances Doman’s existing U.S. operations in the Central and West Coast regions. It marks a major expansion into ten new states: South Carolina, North Carolina, Florida, Georgia, Virginia, West Virginia, Delaware, Maryland, New York, and Pennsylvania.
The acquisition adds approximately 800 million board feet of lumber treating capacity, boosting Doman’s total capacity to over three billion board feet annually, solidifying its position as one of the largest pressure-treated lumber producers in North America. Doman expects a 40% increase in its U.S. sales from the acquisition. The transaction will also allow for operational synergies, including shared best practices, enhanced purchasing power for pressure-treated materials, and better use of Doman’s sales and distribution channels.
Carl Tucker, who will become honorary CEO emeritus of the new division, commented, “After 104 years in the wood products industry, the Tucker family is excited to partner with Doman Building Materials. Doman’s leadership, led by Amar Doman, is a perfect fit for our long-term success. David, Paul, Mark, and Andrew Tucker, along with all managers, will continue in their current roles as we join forces with Doman.”
Amar Doman, Chairman and CEO, added, “We are excited to welcome Tucker Lumber to the Doman Group. This acquisition complements our U.S. operations and expands our footprint into ten new states. With 37 treating plants across the U.S. and Hawaii, we are well-positioned for continued growth and success alongside the Tucker team.”
The transaction, completed on October 1, 2024, did not require further regulatory or shareholder approval.
