After more than 70 years supplying quality hardwood timber and timber products, Grafton native hardwood timber mill J Notaras and Sons has been sold to Newcastle-based Marshall’s Timbers. Source: Timberbiz
Completion of the transaction, which includes land, buildings, equipment and all business assets is subject to the fulfilment of essential conditions precedent including the assignment of the Wood Supply Agreements with Forestry NSW to the purchaser.
J Notaras & Sons was founded in Grafton by two brothers – Lambrinos (Brinos) and Spiro Notaras – in 1952 and has continuously operated since then under the ownership of the Notaras family.
The company has an outstanding reputation for delivering quality hardwood timber products and exceptional service to local customers and has been a significant long term employer and contributor to the Grafton and Clarence Valley community, as well as a strong sustainability advocate for the timber industry.
Marshall’s Timbers is a family-owned business, operating for more than 60 years and are Newcastle’s largest supplier of timber and timber products with family commitment to quality and service aligned to the Notaras family.
“We are delighted that the Marshall family can carry forward the vision of Brinos and Spiro, and that the J Notaras and Sons business can continue to operate and thrive in the Grafton business community, provide sustainable employment to its many loyal employees and suppliers, and continue to supply quality hardwood timber products to its customers,” the company said in a statement.
“The sale will allow the company to continue to grow and thrive with new energy and commitment under the stewardship of the Marshall family. The Board would like to express their thanks to all present and former employees, suppliers, customers and stakeholders who have contributed to the on-going success of the J Notaras & Sons business over many years.”
Paul Marshall welcomed the opportunity to continue to grow the specialised timber production business started by Brinos and Spiro Notaras.
“We also bring a wealth of timber knowledge and over 60 years’ experience in timber retailing from our continuation of our father’s business, Marshalls Timbers Pty Ltd.
“With the support of NSW Forestry, State, Federal and local governments we can keep the machines rolling to continue producing premium timber products in Grafton,” he said.
J Notaras & Sons general manager Donna Layton said she had mixed emotions about the sale.
“After working for the Notaras family for 45 years it is hard to say goodbye,” she said.
“However, I am excited that the Marshall family, as the new owners, will continue to keep the business operating with the existing staff and the same commitment that family businesses have.
“Their enthusiasm to continue and grow the business into the future is great news for everyone concerned, including our community which the Marshall family will continue to support.”
The transaction is expected to close within six weeks of fulfillment of essential conditions precedent, with all employees to be retained by the new ownership structure.
Findex Corporate Finance (Australia) Limited acted as lead and financial advisors to the Board and shareholders of J Notaras & Son Pty Ltd, with Talbot Sayers have acted as legal advisers to the company.