More than 50 jobs have been saved at South Shields-based timber merchant FJ Reeves (Northern) Ltd following its acquisition by the Arnold Laver Group.
Lavers bought the site from receivers the P&A Partnership for a undisclosed sum. The purchase does not include Reeves’ second depot at Hartlepool.
Andrew Laver, Lavers group managing director, said: “This is good news for the workforce, customers of FJ Reeves, South Shields and the long-term development plans of Timber World.”
He said the acquisition extends Lavers national supply chain and continues the roll-out of a major investment programme geared to keep the group as a leader in the timber industry.
Mr Laver said investment and expansion plans for the depot at Tyne Dock would be announced in the coming months but the range of products would immediately be extended. Its name will be changed to FJ Reeves Timber World Ltd.
News of the buyout, which came during South Tyneside Business Week, aimed at celebrating business and employment opportunities in the area, was welcomed by South Tyneside councillor Eddie McAtominey.
The Sheffield-based receivers are still running Reeves’ Hartlepool site, which has merchanting and joinery manufacturing operations. Reeves had originally acquired the site in 1999, when it bought North Timber out of receivership, saving more than 70 jobs.
