Header: Header: Header:

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

Weyerhaeuser Enhances Coastal Holdings

Weyerhaeuser Co. entered into two agreements with Forest Investment Associates to divest 69,600 acres in upstate South Carolina for $170 million, and to purchase 60,700 acres of high-quality timberlands in coastal North Carolina, South Carolina and Mississippi for $163 million…

Boise Cascade Curtails Chapman Sawmill

Boise Cascade announced an indefinite curtailment of its lumber production in Chapman, Ala. The curtailment will affect 80 positions. The plywood operations at the Chapman location are not part of the curtailment. Worker Adjustment and Retraining Notification (WARN) Act notification was provided to impacted employees and specifies that operations will cease on January 28, 2024…

WWPA’s Mathews Leaves A Legacy

James R. Mathews, known by most as Jim, was a WWPA Lumber Inspector and Master Lumberman, but is most remembered by his colleagues and those in the industry as a great friend and mentor. He died at the age of 74. Mathews spent 42 years working in the lumber industry. He began his career with Weyerhaeuser Co., Klamath Falls, Oregon in 1970. He worked in most of the planer mill positions until moving into the lumber grading department as a student grader in 1972…

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.