r.k. Miles postpones Allen Lumber acquisition
A merger between pro dealers in Vermont has been put on hold due to the COVID-19 restrictions.
r.k. Miles announced that it has postponed its purchase of Allen Lumber Company until the end of November.
Recent restrictions on gatherings and meetings, "Stay Home, Stay Safe" orders from Vermont Gov. Phil Scott, and safety measures for both r.k MILES and Allen Lumber employees, have restricted necessary steps.
r.k. Miles has not been able to complete the systems and staff training that is necessary for a smooth transition, the company said.
“We are disappointed that we were unable to complete all our work before the necessary restrictions were in place,” said Joe Miles, president of r.k. Miles, Inc. “We were truly enjoying working with the Allen staff as we prepared for the Spring transition. It was disappointing to have to delay the closing but given the circumstances we are making these adjustments for the safety of our combined staff.”
“This delay was unexpected and unfortunate, but we have reset our schedules,” added Steve Allen, president of Allen Lumber. “We look forward to continuing to work on the transition later this Fall once the crisis of Covid-19 has passed.”
Preparations for the transition will continue for an anticipated closing date at the end of November.
Both r.k. Miles and Allen Lumber company have been deemed essential and are offering delivery and curbside pick-up services.
Based in Manchester Center, Vt., r.k. Miles announced the acquisition in January. Terms of the deal have not been disclosed.
The purchase includes Allen Lumber’s four locations in Barre, Montpelier, Waitsfield, and St. Johnsbury, Vt.
A third-generation company, r.k. Miles operates four locations in Vermont and two in Massachusetts.
r.k. Miles announced that it has postponed its purchase of Allen Lumber Company until the end of November.
Recent restrictions on gatherings and meetings, "Stay Home, Stay Safe" orders from Vermont Gov. Phil Scott, and safety measures for both r.k MILES and Allen Lumber employees, have restricted necessary steps.
r.k. Miles has not been able to complete the systems and staff training that is necessary for a smooth transition, the company said.
“We are disappointed that we were unable to complete all our work before the necessary restrictions were in place,” said Joe Miles, president of r.k. Miles, Inc. “We were truly enjoying working with the Allen staff as we prepared for the Spring transition. It was disappointing to have to delay the closing but given the circumstances we are making these adjustments for the safety of our combined staff.”
“This delay was unexpected and unfortunate, but we have reset our schedules,” added Steve Allen, president of Allen Lumber. “We look forward to continuing to work on the transition later this Fall once the crisis of Covid-19 has passed.”
Preparations for the transition will continue for an anticipated closing date at the end of November.
Both r.k. Miles and Allen Lumber company have been deemed essential and are offering delivery and curbside pick-up services.
Based in Manchester Center, Vt., r.k. Miles announced the acquisition in January. Terms of the deal have not been disclosed.
The purchase includes Allen Lumber’s four locations in Barre, Montpelier, Waitsfield, and St. Johnsbury, Vt.
A third-generation company, r.k. Miles operates four locations in Vermont and two in Massachusetts.