Molpus purchases timberland in Virginia, Georgia
The Molpus Woodlands Group, a timberland investment management organization, has purchased 26,500 acres in Georgia and Virginia on behalf of its clients. The timberland, located in Liberty and Long counties in Georgia, and Greensville, Sussex and Southampton counties in Virginia, consists mainly of southern pine timberland. Molpus currently manages an additional 22,000 acres in Georgia and Virginia.
This transaction will become part of a co-mingled fund for Molpus, which is headquartered in Jackson, Miss. The fund, which closed in May 2011 at approximately $439 million, is made up of U.S. and international investors, including corporate and public retirement systems, university endowments, foundations and private investors. Molpus currently has more than 1 million acres of timberland under management located in 15 states.
Pro dealers talk shop in San Antonio
The 2011 ProDealer Industry Summit is responding to the building downturn with a healthy lineup of business-building educational sessions.
This year’s event, sponsored jointly by the National Lumber and Building Material Dealers Association and Home Channel News, will take place Oct. 26 to 28 at the Grand Hyatt in San Antonio.
“This industry is ready to break out of the doldrums,” said Jim Reynolds, PDIS managing director. “The best minds in the industry will gather again this year in San Antonio to share their ideas.”
In addition to more networking opportunities than in years past, the event will feature an educational lineup designed to empower the attendees and their businesses.
Among the highlights:
• Forces of change in distribution: Guy Blissett, the wholesale distribution lead for the National Association of Wholesaler-Distributors, will present a keynote address on changing distribution models, with lessons from the best in distribution.
• Standout sales and leadership: Connie Podesta, the president of Connie Podesta Inc./Standout, will discuss optimum leadership for today’s business environment.
• The 2010 census and the impact on residential construction: David Vandenbroucke from the U.S. Department of Housing and Urban Development and Greg Brooks, president of BSCi, review the data to help steer companies toward a recovery.
Cedar Creek to purchase wood wholesaler
Cedar Creek Wholesale, a building material distributor based in Oklahoma City, has agreed to purchase Wholesale Wood Products of Dothan and Birmingham, Ala. Financial details of the transaction were not revealed.
Wholesale Wood Products serves five southeastern states from two locations in Alabama and specialized in western red cedar and cypress.
Cedar Creek has 12 locations in 17 states across the Midwest, Mid-south and Southeast.
“This move backfills Cedar Creek’s current coverage area in the Southeast between our current Tennessee and North Carolina branches and further underscores our commitment to growing the footprint of Cedar Creek," said Bill Adams, CEO of Cedar Creek.