The sale of Cox Lumber Co.’s US stores to building supply giant Home Depot subsidiary Williams Bros. Lumber Co. won’t have any affect on the Cox store here.
The US deal was sealed 1 May. Cox Lumber was founded and owned for 58 years by Cayman Islands native Linton Tibbetts.
With 950 employees and 28 stores across Florida, Cox’s US sales totalled $396-million in 2005.
The sale will not affect the Cox Lumber Co. store in Grand Cayman, now known as Cox Lumber Ltd., which will remain part of the Tibbetts family of companies.
‘We have no intention of changing anything at present, although you never can tell what will happen’ said Mr. Tibbetts from his company headquarters in St. Petersburg. ‘For now, I want to keep the Cayman Cox’s Lumber going the way it is.’
Mr. Tibbetts expressed his interest in holding on to the business in Grand Cayman due to his commitment to supplying the Cayman Islands, especially the Sister Islands, with quality building products.
Although he moved to Florida in 1943 and bought the Cox business in 1948, Mr. Tibbetts keeps close ties with his homeland, maintaining several businesses across the Cayman Islands.
As a sign of his continued support and concern for less fortunate Caymanians, Mr Tibbetts will be in town today for a cheque presentation from his family foundation, being held at 3 pm at the Cox Lumber Eastern Avenue store.
‘Helping out those in the greatest need is my priority,’ he said. ‘Child and youth issues are very close to my and my wife’s hearts and we want to give something back.’