HOLDEN – Granville Lumber now has a new owner, and he’s already working on plans to create a stronger building supply and lumber market in the area by using volume purchasing.

That should mean lower-priced products for local residents.

Chris Rhoades, founder and CEO of Rhoades Building Products, completed the purchase of Granville Lumber, a 22-year-old family-owned business in Holden and Blue Hill, on Tuesday. He now has five building supply businesses in central and Down East Maine.

“When you’re buying for five locations, there’s increased buying power which comes with pricing advantages and more inventory,” Rhoades said.

Within months, all five locations will be renamed Rhoades Building Products.

Rhoades, a Falmouth businessman originally from California, described Granville Lumber as a “pristine” company run by a strong Maine man who believes in ensuring customers get top-notch service and products.

“We’re excited about what [former owner] Ned Jennings has done,” he said, adding that he plans to continue and expand Jennings’ hard work.

In addition to the two Granville Lumber locales, Rhoades owns H.F. Pinkham Inc.’s stores in Milbridge and Machias, which he purchased in 2004, and opened his first Rhoades Building Products location in Ellsworth earlier this year. The Holden location will serve as headquarters.

Rhoades plans to retain Granville Lumber’s 80 employees. Claude Berthiaume, a 12-year employee, said that he and his co-workers had heard rumors that Jennings was interested in selling the facility but were stunned to hear of Tuesday’s sale.

“It was a surprise,” he said.

Both Berthiaume and Mike Ramsey, a 15-year employee, said they are excited about their new boss.

“I see it as a positive thing,” Ramsey said. “The more stores, the more buying power.”

Jennings said he had planned for more than a year to sell his business. He will retain his ownership of Granville Rental and Granville Stone with locations in Holden and Ellsworth and hopes to open more locations in the midcoast area.

His son, Mike Jennings, will move from Granville Lumber to Rhoades Building Products and remain the vice president of purchasing.

Gov. John Baldacci was on hand during a press conference Thursday to announce the sale along with state Sen. Dennis Damon, D-Trenton, who is chairman of the Joint Select Committee on Future Maine Prosperity, and Steve Veilleux, president of Rhoades Building Products.

“This is just a wonderful opportunity to showcase the state of Maine,” the governor said. “I’m here to congratulate him and thank him for being in the state.”