N.Y. firm buys century-old, R.I.-based JT's Lumber
12:27 PM Wed, Nov 04, 2009 | Permalink
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By Bruce Landis A family-owned landmark for Rhode Island builders and home do-it-yourselfers, JT's Lumber Company, has been sold to a New York lumber business, officials said. The buyer is Riverhead Building Supply Corp., which operates nine lumber and building supply stores on Long Island. Riverhead Marketing Manager Gael Harden said the company plans to keep JT's name and employees at its two locations in North Kingstown and Middletown. She said it will rename JT's Signature Spaces showrooms to match Riverhead's five similar Perimeter Showrooms. The sale saw one long-time family-owned company buy an even older family-owned company. Patrick Rooney, president and CEO of JT's, is the grandson of James T. O'Connell, who founded the company in Newport in 1909. Edgar Goodale, Riverhead's president, is descended from the family that started that company more than 60 years ago, Harden said. "Our goal is to keep the JT's Lumber tradition going strong for another 100 years," Goodale said in announcing the acquisition. The price wasn't stated. The closing was Friday, Harden said. 
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