Mill Street & Co. announced its subsidiary, The Fastway Group, has entered into a purchase agreement for the acquisition of the business operations of North American Lumber Limited (NAL), including the retail outlet in Weyburn. This cancels the earlier announcement made by the company that the Weyburn location would be closing.
For over 110 years, North American Lumber has been serving local communities in Northwestern Ontario, Manitoba and Saskatchewan, providing a broad range of products including lumber, hardware and building materials. Its strengths include long-term staff with superior product knowledge, a proven and recognized commitment to customer satisfaction, and motivated managers who are closely involved in the communities in which they live and work.
This has resulted in a broad base of loyal customers and an excellent reputation in all the markets NAL serves. NAL’s 11 retail locations are supported by strong back-end systems and a highly capable team of industry-leading professionals at its corporate head office in Winnipeg, Man.
“We are very proud to add North American Lumber as the newest member of The Fastway Group,” said Fastway President, Geoff Reed. “North American Lumber represents the most trusted and respected name for lumber and building supplies in Central Canada and its dedication to customer-centered performance makes it a perfect fit for The Fastway Group. Not only does the company bring a proud legacy that spans over 100 years of success, I am most excited about the extraordinary team of industry professionals who will continue to deliver exceptional value to our customers.”
“I couldn’t be more thrilled by the addition of North American Lumber to The Fastway Group,” said Noah Murad, Mill Street & Co. President. “Its strong market reputation and geographical breadth spanning Central Canada represents a significant step forward in creating a next generation national leader for lumber and building supplies in Canada. This is a strong addition to the group that will provide immediate value to The Fastway Group customers, as well as Mill Street & Co. and its partners.”
NAL President Martha Konantz commented, “I am very pleased for the company, its staff and the continuing legacy of this great brand. I believe The Fastway Group will bring positive energy and opportunities to the company and will successfully grow and develop the business in new directions. I look forward to working with Geoff Reed and Noah Murad as we transition the business to new ownership over the next few months.”
The transition period has started, and the new ownership will take effect on Oct. 31, 2017.