Ken Tucker, CEO of Lignetics stated, "Completing this acquisition is in line with our strategy to continue to expand our geographic footprint in the U.S. and remain the market leader in the residential wood pellet industry.” Tucker added, “Geneva has great customers which we look forward to continuing to support with the help of Jeff and Lucinda Allen and the rest of the team in Strong, Maine, whose goal is to continue to provide a superior product and excellent customer service.”
Lignetics acquired the wood pellet manufacturing facility of GF Funding LLC, based in Strong, Maine, which produces hardwood pellet fuel for residential and commercial use. The facility produces Maine's Choice and Geneva Wood Pellets brands of residential hardwood pellet fuel which can be found at independent retailers and select chains throughout the Northeast.
Lignetics is the largest residential wood pellet manufacturing company in the U.S. which now has a production capacity of approximately 550,000 tons of wood pellets per year.
