U.K.’s James Jones & Sons Ltd Acquires a Majority Share in Australia’s Mayflower Enterprises Pty Ltd

James Jones & Sons Ltd., a family-owned and managed forest products company, now under its 5th generation of leadership and operating from 27 locations strategically located across the UK, recently announced that it has acquired approximately 60% of the shares in Mayflower Enterprises Pty Ltd., located in Australia. Mayflower Enterprises is the holding company of Hyne Timber and XLam.

The transaction was approved by the Mayflower Enterprises shareholders and by the Australian Treasury’s Foreign Investment Review Board. Mayflower Enterprises Pty Ltd is a sixth generation, family-owned company with an annual turnover of AUD$380M in the year ending 30th June 2021.

Hyne Timber operates two modern sawmills in Australia, one located in Tuan, Queensland and the other in Tumbarumba, NSW. Combined the mills produce about 800,000 m3 of sawn timber, have 750 employees, and retain a 21% market share in the Australian lumber marketplace. The mills source approximately 1.6 million tons of pine logs from plantations strategically located in Queensland, NSW, and Victoria. Hyne Timber also operates a brand-new glulam factory in Queensland, commissioned in 2020.

XLam (New Zealand) was the only CLT manufacturer in the Southern Hemisphere and was acquired in 2015. The company has since relocated to Wodonga, Victoria where Australia’s first ever CLT manufacturing plant was commissioned in 2018.

In commenting about the acquisition of shares in Mayflower, Tom Bruce-Jones, Chairman of James Jones & Sons Ltd, commented: “We first commenced discussions with the Hyne family members in late 2020, and it quickly became apparent that the two companies were very similar culturally and shared complementary values regarding service and quality and looking after their employees. The Executive Management team is very experienced, has been involved in the negotiations and is fully aligned with the new ownership strategy. We believe that this transaction will be an excellent addition to the James Jones & Sons Group and will provide a strong platform for further consolidation and growth in Australia and New Zealand.”