June 19, 2018
Business Latest News | Poll Questions | Susan Collins | Tiny House Surprise | Stephen King

Gagne & Son to open retail store in Holden

By Nok-Noi Ricker, BDN Staff

HOLDEN, Maine — Gagne & Son Concrete Inc. of Belgrade — the former parent company of Gagne Precast of Veazie — plans to open a retail shop on the Main Road in Holden, according to Town Planner Steve Condon.

The company will build an 8,000-square-foot office building at 252 Main Road — the former Maineline Mobile Home lot — that will open in the spring, he said.

“They wanted to get back in this area,” Condon said. “They sell architectural concrete as well as structural concrete.”

The concrete company was started in 1945 by Alfred Gagne and his son, Albert “Pete” Gagne, in a two-car garage next to the family home in Augusta, the company’s website states.

The company bought Maine Cement Products in Veazie in 1982 and renamed it Gagne Precast. Fred Gagne, Pete’s son, managed it for 19 years, according to the website.

Stephen Thomas, who now resides in York, Pa., purchased the company from Gagne in 2005, renaming it Gagne Precast Concrete Products Inc. and created of an employee stock ownership plan. Three years later, the Veazie company was bankrupt.

The U.S. Department of Labor announced in March that it was suing Thomas for his role in the downfall of Gagne Precast Concrete Products, which was forced out of operation by creditors in May 2008.

Thomas was charged with misappropriating or improperly diverting assets and has agreed to restore $225,000 to the Gagne employee stock ownership plan, the U.S. Department of Labor announced Monday.

Gagne & Son, which is owned and operated by Linda and Peter Gagne, grandchildren of founder Alfred Gagne, has seven locations across Maine and an extensive dealer network, the company’s website states.

The new retail shop and warehouse in Holden will include outdoor displays and storage, Condon said.

Have feedback? Want to know more? Send us ideas for follow-up stories.

You may also like