June 23, 2016
Luck Companies announced that it has sold its Luck Stone Center division, which operated retail locations that sold architectural stone products in Virginia and North Carolina, Richmond BizSense reports. The sales were finalized in May, but financial terms of the deals were not disclosed.
According to the report, four buyers made separate deals for the sites. One buyer, Kildare Enterprises, is a New Jersey-based private equity firm that purchased Luck Stone Center’s assets in Dulles, Leesburg, and Charlotte, N.C. It will operate the North Carolina and Virginia sites as Stone Center of the Carolinas and Stone Center of Northern Virginia, respectively, under its Schofield Stone portfolio company.
The Luck Stone Center in Charlottesville was purchased by Frederick Block, Brick & Stone. The Luck Stone Center in Raleigh was purchased by Tucker Thorpe and is now operating as Southern Stone Supply. The Luck Stone Center workshop in Leesburg was purchased in a deal separate from the Kildare transaction and is under new ownership as Terra Stoneworks. Luck Stone Center locations in Richmond and Baltimore were closed prior to closing the various deals.
The news agency reports that, seven months ago, the company began the process of selling off its retail division and Har-Tru Sports tennis court clay and accessories unit, which was purchased in May by Tuckahoe Holdings. The company told the news agency that the sales were part of an effort to focus on its core business of quarrying crushed stone through its main Luck Stone unit.