After being owned and operated by the same Covington family for four generations, Poole Lumber Company is being bought by Lafayette-based Doug Ashy Building Materials. Financial terms of the sale, which is expected to close later this month, were not disclosed in an announcement released by Poole Lumber Company today.
Poole Lumber Company will retain its name following the sale and all employees will also retain their jobs, says Doug Ashy Building Materials President and CEO Steve Ashy Sr., adding the staff will be expanded “in the near future” as additional product lines become available to customers.
“We are remarkably similar to Poole, both in our roots and by our continuing passion to make sure our customers can rely on us to have the quality of materials they need,” Ashy says in a prepared statement. “But with our size, we bring more buying power and a wealth of knowledge with our more than 300 employees in the Lafayette area. This means the professional builders, contractors, do-it-yourselfers and other customers in St. Tammany will see more product lines, very competitive prices and the highest quality of both customer service and materials at our new location. We plan to be a partner in the growth of the Northshore area.”
Poole Lumber Company is celebrating its 70th year in operation, according to Wilson LaGraize Jr., the court-appointed receiver for Poole Lumber, who conducted the search for a buyer and is now guiding the transition to new ownership. LaGraize was appointed by 22nd Judicial District Court Judge William Knight, who decided the best resolution of civil proceedings involving heirs of the Poole family was a sale of the company.
“All the owners of Poole Lumber are good people and ran a great operation for many years. The Ashy’s plan to continue this tradition,” LaGraize says in a statement. “As a local resident, I see this sale to the Ashy family as very positive news because the Doug Ashy people are committed to being good members of our community, just as they are in Acadiana.”
Doug Ashy Building Materials has expanded to include six locations across southwest Louisiana since its founding in 1960. The company also operates a drywall and roofing supply company called Louisiana Drywall.
