HPM, Miyake Announce MergerAugust 24, 2020, 5:25 PM HST (Updated August 24, 2020, 5:25 PM)
HPM Building Supply in Hilo has merged with Miyake Concrete Accessories, Inc., the companies announced Monday.
The merger, effective Aug. 24, 2020, expands HPM’s presence statewide, which now includes 13 locations: the five former Miyake branches on Maui (Kīhei, Lahaina, Makawao, and Wailuku, along with one truss manufacturing plant), five on Hawaiʻi Island (Hilo, Kona, Waimea, Keaʻau), one on ʻOahu (Kapolei) and two on Kauaʻi (Lawai, Kapaʻa).
HPM Building Supply plans to renovate and rebrand the Maui stores, which will be called “Miyake – HPM Building Supply.”
HPM plans to hire additional staff to supplement the current 35 Miyake employees, the company said in a press release. As HPM is 100% employee-owned through its employee stock ownership plan, all Miyake staff members will become HPM owner-employees.
HPM will integrate merchandising, systems, and operations at the Maui stores through the end of 2020. All Maui locations will remain fully operational during the transition period, the company said.
“The name ‘Miyake,’ has been synonymous with trust, reliability, and excellent service in the building industry on Maui,” said Jason Fujimoto, president and CEO of HPM Building Supply. “As longtime family businesses, we understand each other, and we are stronger together because of our shared island values, deep local roots, and commitment to serving customers, employees, and our communities. All of us at HPM welcome the Miyake team to our ʻohana and look forward to embarking on this journey together.”
Miyake Concrete Accessories CEO David Miyake, who founded the company in 1979, said, “I built my business on service and relationships, and I am happy for our customers because HPM shares this same philosophy. Now contractors, builders, and homeowners on Maui will have a wider selection of products and services and more one-stop convenience. I am happy for our staff because they will enjoy more benefits as owner-employees, and HPM will invest in their success. I am also happy for our Maui community because, like us, HPM is a big supporter of the community. I am very proud of what we have built over the last 41 years, and I am excited about this new chapter.”