(BIVN) – The Hilo-based, employee-owned HPM Building Supply has merged with another family-owned building supply business on Maui, Miyake Concrete Accessories.
HPM’s network now includes 13 locations: five on Hawaii Island (Hilo, Kona, Waimea, Keaʻau), one on Oʻahu (Kapolei) and two on Kauaʻi (Lawai, Kapaʻa) and five on Maui (Wailuku, Makawao, Kihei, Lahaina).
HPM Building Supply was founded in Hilo in 1921 by Kametaro Fujimoto, the great great grandfather of current President and CEO Jason Fujimoto. The company says it was one of Hawaii’s first businesses to establish an employee profit-sharing plan in 1959, and in 1977, became one of the first companies in the state to be employee owned. HPM shared this media release:
Local, fifth-generation, family-founded HPM Building Supply (HPM) today announced that it is merging with local, longtime, family-owned business, Miyake Concrete Accessories, Inc. (Miyake), which operates four building supply stores and one truss manufacturing plant on Maui. The merger, effective August 24, 2020, expands HPM’s presence statewide – augmenting its five locations on Hawaii Island, one on Oahu and two on Kauai.
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. As HPM is 100 percent employee owned through its employee stock ownership plan, all Miyake staff members will become HPM owner-employees.
“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 ohana 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.”
HPM anticipates integrating merchandising, systems and operations at the Maui stores through the end of 2020, expanding service, products and inventory. All Maui locations will remain fully operational during the transition period.