C.T. Loewen Building Center and McMunn & Yates Building Supplies are pleased to announce that they have signed a purchase transaction agreement whereby McMunn & Yates will acquire the operating assets of C.T. Loewen Building Center. The effective date of this transaction is December 1, 2010.
C.T. Loewen Building Center, owned by Gary, Roger and Curt Loewen, has successfully operated in the Steinbach market since 1905. Speaking on behalf of the family, C.T. President Curt Loewen stated: “This is a great opportunity for us to hand off our business to a company such as McMunn & Yates. They are well respected in the industry and will continue to provide our customers with a high level of sales and service support. It has been a real pleasure to serve our many customers and to have been able to contribute to this beautiful community. We have a dedicated staff and have been associated with some great individuals over the years.”
Jason Yates, President of McMunn & Yates, stated: “We are pleased to have this opportunity to enter the growing Steinbach market. We are very familiar with the Loewen family and know that they have a strong staff in place and are a leading supplier to both contractors and retail customers. Our companies have similar operating philosophies and we will work well together. “We are excited to be working with the current management team at both the building centre and concrete plant. We are also looking forward to becoming part of the Steinbach community,” added Jason Yates.
According to Curt Loewen the sale will also signal the beginning of his and his brothers’ retirement from the building supply and concrete industry. “It has been a great journey and one we have thoroughly enjoyed.”
Minor changes to the storefront will be made to incorporate the McMunn & Yates banner and additions to the merchandising mix will be made over time.
McMunn & Yates Building Supplies Ltd. was founded in 1971 in Dauphin, MB. With the addition of the Steinbach location the Company now operates fourteen retail locations, a distribution centre in Headingly, MB and a truss manufacturing plant in Dauphin. McMunn & Yates provides a full range of lumber and building material sales to retail customers, commercial contractors and home builders.
