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Richardson Industries sells lumber division

Posted by on January 22, 2014 at 8:05 AM | 0 Comments

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Sheboygan Falls-based Richardson Industries has sold its lumber division to a Campbellsport building supply firm, company officials announced Wednesday.

The sale to Drexel Building Supply will provide capital to expand Richardson’s manufacturing divisions — Richardson Yacht Interiors and Richco Structures — which continue to grow, Richardson CEO Gary Kane said...

...Under the deal, Drexel will acquire the lumber division’s inventory, while Richardson will otherwise retain ownership of the design center building, lumber yard and warehouse at its 9.5-acre property at 904 Monroe St.

Kane said Drexel has agreed to lease the 5,000-square-foot design center and will operate its own design studio there serving manufacturers, farmers, builders and remodelers. Richardson will try to redevelop the remaining property used by its lumber division, though no specific plans are in place yet, Kane said.

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