Two top hardwood product importers, Thompson Mahogany and East Teak Fine Hardwoods recently merged to better serve
residential, commercial, hospitality, and marine markets. Thompson Mahogany Company was founded in 1843 and is a premium
supplier of tropic hardwood products from Africa, South America, and Central America. East Teak Fine Hardwoods, Inc. is a
leading importer of teak and other fine hardwood species used for flooring, decking, and moldings.
Thu Oct 15, 2009 5:18pm EDT
Combined Companies Expand Product Offerings
DALLAS –– (Business Wire)–– Thompson Mahogany Company, a fine hardwoods importer
based in
Philadelphia, has merged with East Teak Fine Hardwoods, Inc., an importer of First European
Quality Teak and other fine hardwood products based in South Carolina and Washington state.
Thompson Mahogany Company will operate as a wholly owned subsidiary of East Teak, yet will maintain full operational
autonomy from its headquarters location. The combined entities will leverage the strength of both companies to
better serve customers in the residential, commercial, hospitality and marine industries.
Founded in 1843, Thompson Mahogany Company is a preeminent supplier of quality tropical hardwoods from Central America,
South America and Africa. Thompson directly imports more than 25 exotic wood species of lumber, decking, and
flooring, used for furniture, flooring, outdoor decks and boardwalks. The company ships into the ports of Camden, NJ and
Philadelphia, supplying wholesalers, distributors and manufacturers throughout the United States and Canada. In 2001, the
Philadelphia Inquirer recognized Thompson Mahogany Company as one of Philadelphia's historical businesses.
Founded in 1972, East Teak Fine Hardwoods, Inc. is the leading importer of the highest grade teak and other fine hardwood
species used as decking, flooring, siding, mouldings and custom millwork in the construction of hotels, resorts,
office buildings, luxury homes and yachts. From its facilities in South Carolina and Washington, East Teak serves the
architectural, up–scale residential, commercial construction, hospitality and boating industries throughout the United
States and the Caribbean.
"Thompson Mahogany has an exceptional reputation in the industry and is well known for its quality products and excellent
customer service. We want to continue this tradition while strengthening both companies in the market," said
Wayne Rogers, President and Chief Executive Officer of East Teak Fine Hardwoods. "Thompson Mahogany joining the East Teak
family offers many benefits, including a strong customer base across North America; a complementary product line; the
addition of direct suppliers in South America and Africa; and an expanded distributor network."
Industry veteran Don Thompson, President and Chief Executive Officer of Thompson Mahogany Company, will remain as
President of Thompson Mahogany. Thompson has served as President of the International Wood Products Association and is a
leader in the promotion of sustainable forestry. "Joining with East Teak assures that the great legacy of Thompson Mahogany
will continue," said Thompson. "East Teak understands how we do business and the importance of the relationships we have
built over the years with our customers, suppliers and distributors. I feel confident teaming with East Teak will enable
Thompson Mahogany and East Teak to better serve all of our customers."
Headquartered in Dallas, East Teak operates under the direction of Don R. Daseke, Chairman of the Board. "I am very
excited to see these two highly respected industry giants come together," stated Mr. Daseke. "Both Thompson Mahogany and East
Teak have proven they know how to serve customers effectively. Their people and knowledge of fine hardwoods are the keys to
great customer service. This combined company will now have one of the largest inventories of imported fine hardwoods in the
United States."
Mr. Daseke was the founder and CEO of Walden Residential Properties, Inc., a Real Estate Investment Trust listed on the
New York Stock Exchange until it was sold in 2000. He is Chairman of the Board of Smokey Point Distributing, Inc.;
Chairman of the Board of Liquid Motors, Inc.; a Trustee of DePauw University; the past Chairman of the Dallas Chapter of the
World Presidents Organization; and the Founding Chairman of Sage Telecom, Inc. Mr. Daseke was elected to the Town of Addison
(Texas) City Council in May 2009.
Financing for the transaction was provided in part by PNC Bank, N. A., a member of The PNC Financial Services Group, Inc.
(NYSE:PNC).
For more information, visit www.eastteak.com and www.thomahog.com.
Michael A. Burns & Associates
Jennifer Green, 214–521–8596
jgreen@mbapr.com
or
Lainie Kritser, 214–521–8596
lkritser@mbapr.com
