Here are 1-3 brief analogies to describe Jewett-Cameron Trading (JCTC):

• Like a smaller, specialized version of Central Garden & Pet Company (CENTA), focused on durable goods like fencing, landscape timbers, and pet enclosures.
• Similar to a diversified Trex Company (TREX), but for a broader range of outdoor hard goods such as fencing, sheds, and pet kennels.

• Fencing and Home/Garden Products: The company distributes various outdoor fencing, gates, and related home and garden items.
• Lumber and Building Materials: It distributes a range of lumber and general building materials.
• Portable Structures and Shelters: The company markets and distributes carports, garages, canopies, and other portable storage solutions.
• Automotive and Industrial Paint and Supplies: It distributes automotive and industrial coatings, paints, and related accessories.

Jewett-Cameron Trading (JCTC) primarily sells its products to other companies, specifically to big-box retailers and distributors.

The company has a significant customer concentration. According to its Form 10-K for the fiscal year ended August 31, 2023, sales to one customer comprised approximately 45% of its total sales. However, Jewett-Cameron Trading does not publicly name this specific major customer in its SEC filings for competitive reasons.

Based on the company's product lines (pet supplies, fencing, garden products, tools) and historical information, its major customers typically include large home improvement and general merchandise retailers. Examples of such companies that align with JCTC's distribution channels and have been previously mentioned by the company as major customers include:

• Tractor Supply Company (TSCO)
• Lowe's Companies (LOW)
• The Home Depot, Inc. (HD)

• Universal Forest Products (NASDAQ: UFPI)

Chad Summers, Chief Executive Officer, President, Director

Chad Summers joined Jewett-Cameron Trading in October 2019, was appointed President in May 2021, Chief Executive Officer in January 2022, and named a Director in November 2022. His background includes involvement in start-up ventures in both product and service industries. He co-owned and led an international lumber brokering business, where he managed suppliers in China and Southeast Asia. Additionally, he developed a successful consulting practice focused on growing manufacturers, in association with a regional accounting firm.

Mitch Van Domelen, Chief Financial Officer, Corporate Secretary

Mitch Van Domelen is a Certified Public Accountant who joined Jewett-Cameron in July 2017 as Controller. He was appointed Chief Financial Officer in January 2022 and Corporate Secretary in December 2022. Mr. Van Domelen possesses extensive experience in finance and financial reporting for both public and private companies. Before joining Jewett-Cameron, he served as Controller for a national beverage brand, overseeing financial processes and full-cycle accounting for the company and its nine brewpub locations. From 2007 to 2012, he worked in public accounting, auditing both public and private companies at a large regional firm.

Mike Siuda, Leadership Team Member (Sales and Marketing)

Mike Siuda joined the Jewett-Cameron team in July 2024. He brings extensive sales and marketing experience, primarily within the Building Materials and Construction Industries. Prior to Jewett-Cameron, he was the Senior Director of US Sales for Metaltech-Omega, a significant manufacturer of construction scaffolding in North America. His career also includes sales and marketing leadership roles at Kohler, Rheem Water Heating, and FastenMaster.

Jewett-Cameron Trading Company (JCTC) operates in several distinct product markets. The company's primary business segments include pet and fencing products, industrial wood products, sustainable bag products, and the distribution of building materials.

Currently, Jewett-Cameron's largest segment is Pet, Fencing, and Other products, which includes items like pet enclosures (kennels), proprietary gate support systems (e.g., Adjust-A-Gate, Fit-Right, Perimeter Patrol), perimeter fencing, and greenhouses. While specific addressable market sizes for all these individual product lines are not readily available, the pet product market, particularly for pet enclosures and accessories, is substantial. The company concentrates on the residential repair and remodeling segment for its building materials distribution, primarily in the western United States.

The Industrial Wood Products segment focuses on processing and distributing industrial wood products, notably treated plywood for the transportation industry.

The company also offers sustainable bag products under the MyEcoWorld® brand.

Due to the diverse and specialized nature of Jewett-Cameron's product lines and the lack of readily available, specific addressable market sizes for each niche product within public search results, a comprehensive market size for their main products across all identified regions cannot be precisely determined at this time. Therefore, a specific numerical market size for each product line or service cannot be provided.

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1. Expansion of Existing Product Lines and Increased Retail Presence: Jewett-Cameron expects to drive revenue growth through the continued expansion and increased visibility of its established product lines. This includes significantly increasing the presence of products like its Lifetime Steel Post displayers in major retailers such as The Home Depot and Lowe's. The company aims to enhance product visibility and accessibility to existing and new customers within current markets.
2. Launch and Growth of Innovative New Products: The introduction of innovative new products, such as Adjust-A-Gate Unlimited, is a key driver for future revenue. Jewett-Cameron has a history of launching products that address unmet needs and is committed to continuing this tradition by developing a diverse range of new solutions for both consumers and professionals.
3. New Market Expansion for Current Products: Expanding the reach of recently launched or existing product categories into new geographic markets is anticipated to contribute to revenue growth. An example of this is the expansion of MyEcoWorld Pet Waste Bags into new markets. The company's vision explicitly includes exploring new markets for its expanded product lines.
4. Strategic Partnerships and New Customer Acquisitions: Jewett-Cameron is focusing on expanding its market presence through new customer acquisitions and strategic partnerships. This approach aims to broaden its customer base and distribution channels, particularly for its core product lines, which are supplied to major home improvement center chains in the Western United States.
5. Enhanced Operational Efficiency and Diversified Global Sourcing: While primarily a cost-side initiative, Jewett-Cameron's efforts in operational efficiency, including organizational changes, process improvements, and the expansion of its global sourcing strategy (now including countries like Indonesia, Vietnam, Malaysia, Bangladesh, and Taiwan), are designed to mitigate tariff impacts, improve margins, and reduce structural costs. These efforts "lay a stronger foundation for profitable growth over the long term", indirectly supporting revenue growth by enabling more competitive pricing and ensuring a resilient, cost-effective supply chain that can consistently meet customer demand.

Share Repurchases

• Jewett-Cameron Trading reported redemption of common stock totaling $3,867,046 for the fiscal year ended August 31, 2020.
• No significant share repurchases were identified for the fiscal years ended August 31, 2021, 2022, 2023, or 2024 in the available information.
• A share repurchase plan was authorized in February 2019 to purchase up to 250,000 common shares, representing approximately 5.9% of shares outstanding at that time, with the plan remaining in place until August 31, 2019.

Share Issuance

• The company reported $0 in issuance of common stock for the fiscal year ended August 31, 2020.
• The number of common shares outstanding increased from 3,481,162 as of August 31, 2020, to 3,504,802 as of August 31, 2024.

Outbound Investments

• The JCSC seed subsidiary ceased regular operations effective August 31, 2023, with the company in the process of selling its remaining equipment and having listed the JCSC property for sale or lease in July 2024 for $9,000,000.
• The company exited the MSI industrial tools and clamps segment during fiscal 2020, liquidating remaining inventory and winding up the subsidiary.

Capital Expenditures

• Capital expenditures in the Industrial wood products and Pet, Fencing and Other segments were reported as negligible or zero for the fiscal years ended August 31, 2023, and 2024.
• In fiscal 2021, the company completed a renovation of a building into a new innovation center, which involved converting 2,000 square feet of older warehouse space into 4,000 square feet of office and meeting space, focusing on new product development.