Possible sale of S.T. Griswold in the works (5/14/09)

May 14, 2009

By Tim Simard

Observer staff

One of Vermont’s leading concrete companies appears to be selling at least some of its assets to a main competitor.

According to reports, the S.D. Ireland Company is negotiating a purchase of Williston-based S.T. Griswold & Company Inc. In a document obtained by the Observer, dated May 7, S.T. Griswold President Douglas H. Griswold told a customer of the business transaction.

“Griswold is in the process of an asset sale to SD Ireland,” Griswold wrote, before requesting any outstanding payments from the customers.

There was no information available on the price of the sale.

Griswold did not return phone calls to the Observer by press deadline and an e-mail last week from the company’s general manager, Alyssa Chase, said the company was not ready to announce any details. Voicemail messages requesting further comment this week were not returned.

Calls to S.T. Griswold outlet stores across the state went unanswered or transferred directly to voicemail.

Robin Jeffers, a spokeswoman with S.D. Ireland, also remained tightlipped about the business transaction.

“Nothing is final at this point,” Jeffers said Friday.

A representative at the Vermont Secretary of State’s Corporations Division said there had been no record of sale placed with the office as of press deadline.

S.T. Griswold, located on Industrial Avenue, opened in 1957 under Griswold’s father, Steele T. Griswold, according to the company’s Web site. The company has five ready-mix concrete plants and four retails outlets across the state. S.T. Griswold also has a fleet of more than 80 trucks.

It also employs more than 200 workers, the Web site states. There was no word at press time on how the employees would be affected by any sale.

S.D. Ireland, located in Burlington, started in 1974 as the S.D. Ireland Concrete Construction Corp. and also grew to become one of Vermont’s largest concrete companies. In 1995, the company expanded with the S.D. Ireland Brothers Corp. for commercial excavating.