HGL Limited is proud of its longevity and uniquely Australian story.
Our origins can be traced to pre-federation when Thomas Hancock, together with his sons Josias and Thomas Junior, migrated to Queensland from Cornwall in 1855 and established a sawmill in the Ipswich area in 1867.
The business grew steadily and by 1886 Hancock & Sons employed 274 people. Joseph Gore, who had arrived in Australia from Wiltshire England in 1885, joined Hancock & Sons in a management position in 1901.
The business flourished and Hancock & Gore Ltd was incorporated in 1904, and subsequently listed on the Brisbane Stock Exchange.
Since that incorporation, Hancock & Gore Ltd has had several iterations, to bring it to its present day identity of HGL Limited. The key events of this story are listed on the following timeline.
Acquisition of Pegasus Health care
Leutenegger is divested
Acquisition of Intralux and POSM solutions
Biante is divested
Cheryl Hayman joins the Board
Establishment of Nido Interiors
BOC and XLN are divested
HGL commences implementation of the GPS Strategy Plan under the leadership of the new Chief Executive, Henrik Thorup, taking an active involvement in the day to day operations to ensure group turnaround objectives are achieved.
Henrik Thorup is appointed CEO in January
Michael Mahoney resigns as CEO due to ill health.
Kevin Eley resigns as CEO, remains non-executive director of HGL Limited. Michael Mahoney is appointed CEO of HGL Limited.
Biante is acquired in April
BLC Cosmetics is acquired in July
SPOS is acquired in April
Julian Constable joins Board
In June the company name is changed to HGL Ltd
Peter Miller appointed Chairman
Peter Miller and Frank Wolf join Board
Leutenegger is acquired
Hooper Bailie sells it shareholding in Hancock & Gore.
Kevin Eley commences as CEO of Hancock & Gore
Interests associated with Hooper Bailie Industries Limited acquire a 40% interest in Hancock & Gore and Robert Constable becomes Executive Chairman. They revitalise the company, sell the plywood interests, and become an investor in property, listed equities and private companies.
Company experiences financial difficulties and sells a number of core businesses
A new share issue to raise capital for projects such as sawmill electrification schemes and reafforestation plan commences. The company promotes its “remarkably stable dividend” since 1929
Hancock & Gore are Australia’s largest plywood producers employing 2000 people and are the second largest employer in Qld after the railways
Plywood and veneering plant established.
90 shares issued for the first time to outside the founding shareholders.
Business grows to include 5 metropolitan and 13 rural mills in Queensland, and 2 mills in NSW (Lismore and Roseberry)
Hancock & Gore Ltd incorporated and listed on the Brisbane Stock Exchange
Joseph Gore joins the business
Thomas Hancock together with his sons, Josias and Thomas Junior, establish a sawmill in the Ipswich area.