Snavely Forest Products, a wholly owned subsidiary of MacArthur Company, has entered into a definitive agreement to purchase Mid-States Wholesale Lumber Company, an Oklahoma City- based, wholesale lumber and building products company. The transaction is expected to close on or before December 30, 2022.
The acquisition of Mid-States matches with Snavely's business strategy to intentionally develop its 120-year-old culture and expand its geographic footprint as a leading wholesale distribution company within the same industry. This plan is a healthy acquisition as it underpins Snavely's brand statement to build business for its partners.
As a subsidiary of Snavely, Mid-States will continue to operate seamlessly and consistently. They will preserve the Mid-States name, work under the same management team, and most importantly, retain its greatest asset – its employees.
Clark Spitzer, President of Snavely, says, "We are proud and excited to have Mid-States join our company. They are a well-run company with a solid reputation in the industry. We look forward to having them as part of our employee-owned company, and our collective collaboration to expand their presence in the market. GROWTH is the fuel that feeds an ESOP, and the addition of Mid-States will support our strategic growth goals and contribute greatly to keeping our company healthy and vibrant."
Mike Davis, General Manager of Mid-States, says, "We have an obligation to maintain our current culture, continue to serve our relevant customer base, and generate value for our employees. We look forward to joining the Snavely family and creating new and expanded business opportunities for our customers."