Acquisition of Graf Brothers by Charlois
24 July 2024
Through its subsidiary Oak Nation, Charlois is proud to announce the acquisition of 100% of Graf Brothers in the United States.
For four generations, the Graf family has been active in oak processing in the United States.
Founded in 2003 by Greg and Dave Graf in South Shore, Kentucky, at the heart of the finest White Oak forests, Graf Brothers is the world’s leading producer of quarter-sawn and rift-sawn American oak, specializing in the transformation of Quercus alba into high-quality lumber and premium flooring. The South Shore facilities employ 350 people across 14 storage and production facilities, featuring extensive kiln-drying capacity and log yards on nearly 100 acres, supplemented by a 346 acres land reserve. The two sawmills on site, along with the sawing capacities of two exclusive subcontractors and log yards spread across the Appalachians, enable the processing of over 42M Board Feet of logs per year into carpentry components, solid and engineered flooring, or staves for wine and bourbon barrels, generating an annual revenue of over $100 million.
Close to Kelvin Cooperage and Bourbon Country, the Graf Bros teams have gradually diversified their activities towards the production of high-quality staves, operating since 2023 the largest stave mill capacity on a single site in the United States.
With this significant acquisition, the largest in its history, Charlois replicates in the United States the vertically integrated model that has made it strong in Europe, where the group is already the largest buyer of oak in France and Romania.
“I am very pleased to welcome the Graf brothers and their remarkable teams into the Charlois family,” says Sylvain Charlois. “We share the same commitment to mastering and selecting oak. For both the Graf brothers and us, it all begins with the forest. Vertical integration, from the forest to the barrel, will ensure complete traceability and production of barrels from exceptionally high-quality staves for our group’s customers, including those of Kelvin Cooperage.”
With this acquisition, Charlois continues its expansion in the thriving high-end spirits market and confirms its ambition to eventually capture between 5 and 10% of the bourbon barrel market share.
Dave and Greg Graf will continue to lead and support the activity, benefiting from Charlois’s expertise and support, with many synergies anticipated. Graf’s carpentry and flooring products, highly reputed in the United States, represent a timely diversification for the group. Indeed, in its pursuit of maximizing and optimizing raw materials, Charlois brings together historically complementary activities: forestry, sawmilling, stave milling, cooperage, and now flooring.
“Our expertise and ambitions converge: joining the Charlois adventure is an exciting new chapter for all Graf teams. We are happy to embark together on this new phase dedicated to valuing the finest oaks,” said the Graf brothers.
