Boise Cascade
| Company type | Public |
|---|---|
| Industry | Wood products, Building materials distribution |
| Founded | 1957 |
| Founder | Merger of Cascade Lumber Company and Boise Payette Lumber Company |
| Headquarters | Boise, Idaho , United States |
Area served | North America |
Key people | Nate Jorgensen (CEO), Kelly Hibbs (CFO), Mike Brown (EVP Wood Products), Jeff Strom (EVP Building Materials Distribution) |
| Products | Engineered wood products, plywood, lumber, building materials distribution |
Number of employees | 6000 (2021) |
| Website | www |
Boise Cascade Company is a U.S.-based producer of wood products and a wholesale supplier of building materials, with its main office located in Boise, Idaho.
As a publicly traded firm, it reported revenues exceeding $7.9 billion in 2021 and is listed on the New York Stock Exchange (NYSE) under the ticker BCC. Boise Cascade Wood Products specializes in the production of plywood, engineered wood products, and lumber, distributing an extensive assortment of wood materials and construction supplies through 38 distribution centers throughout North America. The organization employs roughly 6,000 individuals.
History
Boise Cascade Corporation originated in 1957 from the merger between Cascade Lumber Company based in Yakima, Washington and Boise Payette Lumber Company located in Boise. Robert Hansberger assumed the role of CEO, directing the company's focus towards ownership of timberlands, timber harvesting operations, and manufacturing as well as distributing lumber and building materials. By 1958, the corporation managed more than 100 retail outlets serving wholesale distribution and inaugurated its first paper mill in Wallula, Washington, dedicated to producing corrugated shipping containers.
Throughout the 1960s, Boise Cascade rapidly expanded into various sectors including concrete ready-mix, plastics, textiles, sand and gravel supply, office product distribution, motor homes, cruise lines, real estate development, recreational projects, and engineering services for utility companies. William Agee joined as CFO in 1969; under his guidance, the company’s stock price initially increased significantly but then experienced a steep decline by 1971.
The company’s current headquarters in Boise was finalized in 1970. Following a period of falling share prices, Hansberger stepped down in 1972; John Fery took over as CEO and redirected the business towards its primary focus on building materials and paper products. The downturn in the housing sector during the 1980s resulted in scaling back distribution activities; by 1987 all retail outlets had been either closed or sold off.
In the 1990s, Boise Cascade divested its wholesale office products division but maintained its consumer operations while investing heavily in engineered wood products (EWP), including pioneering finger-jointing technology for laminated veneer lumber (LVL). Under the leadership of CEO George Harad starting in 1994, the company broadened its distribution network and reduced exposure to manufacturing risks. The acquisition of Furman Lumber in 1999 established a nationwide wholesale distribution presence.
In 2003, Boise Cascade purchased OfficeMax but then sold off its paper, forest products, and timberland holdings to Madison Dearborn Capital Partners in 2004, creating Boise Cascade LLC as a private entity. The remaining company was renamed OfficeMax (ticker OMX). CEO Tom Stephens managed $3.2 billion in debt resulting from this transaction; timberlands were divested in 2005 to decrease liabilities. In 2008, pulp and paper operations were separated into Boise, Inc., enabling Boise Cascade to further reduce debt just before the housing market downturn.
Tom Carlile became CEO in 2009 and guided the company through recovery by investing in EWP production facilities and expanding its building materials distribution network. Boise Cascade re-entered public markets with an initial public offering on February 6, 2013.
Tom Corrick served as CEO from 2015 until his retirement in March 2020. Currently, Nate Jorgensen holds the position of CEO.
Operations
The company functions through two fully integrated divisions:
- The Wood Products division produces engineered wood products (EWP), plywood, and lumber targeted at wholesalers, retail dealers, and builders within both residential and commercial construction sectors. Its manufacturing sites are situated in the Pacific Northwest, the southeastern United States, and St. Jacques, New Brunswick, Canada. The company operates the world’s two largest laminated veneer lumber (LVL) and I-joist facilities and holds the second position in North America for engineered wood and plywood production.
- The Building Materials Distribution division maintains an extensive inventory of structural building supplies—including engineered wood, siding, composite decking, metal products, and insulation—sourced from more than 1,100 suppliers. Serving home improvement centers, retail lumber outlets, and industrial clients through 35 branches across the country, it stands as the largest wholesale distributor of building materials in the United States.
Corporate governance
Boise Cascade’s senior management team is led by CEO Nate Jorgensen, CFO Kelly Hibbs (who also serves as SVP and Treasurer), EVP Mike Brown overseeing Wood Products, and EVP Jeff Strom managing Building Materials Distribution. The board of directors is chaired by Tom Carlile, a former CEO and CFO of the company.
After a period of financial strain under previous CEO Hansberger and CFO Agee nearly pushed the company to liquidation in 1972, CEO Fery redirected focus toward core business operations during the 1970s. In 2003, Boise Cascade expanded into paper product distribution by acquiring OfficeMax. The following year, it separated its manufacturing and distribution arms. Its pulp and paper operations were sold to an investment group in 2008 and later acquired by Packaging Corporation of America in 2013 under the name Boise Paper. The company initially entered the paper industry in 1958 with a mill located in Wallula, Washington.