UFP Industries Purchases PalletOne
UFP Industries, LLC is purchasing PalletOne, Inc. for $232 million. UFP has also agreed to pay $18 million for PalletOne’s recent capital expenditures.
Based in Bartow, Fla., PalletOne is a leading manufacturer of new pallets in the U.S. with 17 pallet manufacturing facilities in the Southern and Eastern U.S. The company also supplies specialized industrial packaging including custom bins and crates, and its Sunbelt Forest Products subsidiary operates five pressure-treating facilities in the Southeastern U.S. The PalletOne management team, including President Howe Wallace, will continue to lead the company.
“We are excited to welcome PalletOne and its 1,500-plus employees to the UFP family of companies,” says Matthew Missad, CEO of UFP Industries. “PalletOne brings a strong brand, a new customer base, and operating excellence, which drive us closer to our goal of becoming the preferred global packaging solutions provider and preferred wood preserver in the U.S.”
“This is a great opportunity for all of us at PalletOne,” adds Wallace. “As a strategic addition to UFP’s leading industrial business unit, we will have access to new markets, value-added industrial products, and resources that will help us grow our business and provide our customers with more value. Because UFP is committed to developing its employees and promoting from within, PalletOne employees will have new opportunities to grow their careers as well.”
UFP Industries is a holding company whose operating subsidiaries—UFP Industrial, UFP Construction and UFP Retail Solutions—manufacture, distribute and sell a variety of wood- and alternative material-based building and industrial products worldwide. Founded in 1955, the company is headquartered in Grand Rapids, Mich. with affiliates in North America, Europe, Asia and Australia. Organized in 2001, PalletOne manufactures new pallets, provides pallet repair programs, recycles used pallets and produces a variety of other wood products.
Latest News
Kalesnikoff Announces New Mass Timber Plant
Kalesnikoff Mass Timber announced it will build a $34 million mass timber facility in West Kootenays, British Columbia. It will create up to 90 jobs.
Hoffman Companies Acquires Besse Forest Products Group
The Hoffmann Family of Companies (HFOC), a Florida-based family-owned private equity firm, has acquired Besse Forest Products Group, the longstanding Michigan-based family-run company with 10 manufacturing facilities, including four sawmills, a lumber drying concentration yard, four veneer mills and a cut-to-size plywood mill.
Roseburg Names Tony Ramm Senior VP
Roseburg announced that Tony Ramm has been named Senior Vice President of Human Resources and Labor, overseeing the company’s human resources, benefits and compensation, recruitment, and environmental health and safety teams.
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.