LMC celebrates 88 years of rich history
On Oct. 1, 1935, LMC was founded by independent family-owned businesses.
Today, LMC is a leading forest products and building materials buying group representing nearly 400 Dealers with over 1,800 locations in all 50 states and the Bahamas.
Over the years, LMC has cultivated enduring partnerships with top-tier lumber mills and renowned manufacturer brands in America. The cooperative purchasing model introduced by Jim Buckley during its early years revolutionized the lumber industry, reshaping how business was conducted, LMC said.
In 1935, and coincidentally, 35 lumberyards joined forces and founded with Buckley appointed as the first general manager along with two other employees behind hired.
LMC held its First Annual Meeting for Stockholders in January of 1936 in Philadelphia. Dividend checks were returned to each stockholder and ranged from a few hundred dollars to well over a $1,000, which generated growth in interest within the industry.
Another 35 new stockholders joined from New York and New England bringing the total membership to 70. After one year of operations, purchases reached $536,000.
In a crucial moment during World War II, LMC says it played a pivotal role by becoming the distribution arm for Georgia Hardwood, helping to fulfill the urgent need for lumber in the war effort. This move not only contributed to LMC's growth but also sustained local businesses and communities.
LMC continued to expand in the 1950’s moving southbound into Florida and West to the Mississippi. There were now 56 LMC dealers. LMC celebrated its 25th Anniversary at the Shoreham Hotel in Washington, DC. on Nov. 9, 1960, and purchases reached $70 million.
By 1975, LMC turned 40 with 120 stockholders across the East Coast and as far west as Mississippi with purchases crossing the $100 million (over $480 million in 2020) mark for the first time. Lumber dealers saw the value and the number of LMC stockholders continue to increase in the coming decades, the lumber, building materials, and forest products cooperative notes.
In the 1970s and 1980s. further expansion drove LMC into the Southeast and Midwest, and parts of Texas and Minnesota – shifting the buying group’s service area across the Mississippi.
The 1980s and 1990s noted expansion in the Southeast, Midwest, Texas, and Minnesota. By 1988, LMC had reached $1 billion in purchases with 262 stockholder companies. And 9 years later, LMC opened up the Rockies as a new Western Region and surpassed 300 stockholders.
By 1998, LMC joined the modern era by launching its website: lmc.net. Before the turn of the century in 1999, LMC achieved another milestone by surpassing $2 billion in purchases for the first time with 328 stockholder companies.
“Sole Affiliation” was introduced in 2003. The move asked all members drop affiliations with any other co-op and/or buying group. Behind this idea was the track record of LMC’s success with its dealers, and the belief that LMC provided more benefits and opportunities than any other co-op/buying group.
The move leads to breaking another purchasing record and surpassing $3 billion for the first time. LMC continued to grow and is represented in all 50 states, along with the Bahamas for the first time in 2013.
In 2017, LMC crossed the $4 billion mark. Just four years later, LMC crossed the $5.5 billion mark during the global pandemic.
In 2021, Paul Ryan was named the new president and CEO of LMC. Ryan has led the organization as it continues to grow and reach new purchasing levels accompanied by the same service standards LMC has set throughout its history.
LMC said it has grown tremendously through 88 years of business. While many things have changed, the core of LMC has remained the same.
The Wayne, Pennsylvania-based buying group says it continues to serve the LMC network by operating with three words in mind: “Building Business Together.”
