UFP Continues Diversification Through Acquisition
Originally published by: Lesprom — September 17, 2019
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Editor's Note: The article below outlines a recent acquisition by Universal Forest Products, as it strives to further diversify its business holdings. For a company that built its brand on distributing lumber products and structural components, this expansion to over 170 affiliated operations servicing the retail, construction and industrial markets (see image below on product categories) can be an intriguing case study for any component manufacturing operation looking to grow.
Universal Forest Products has acquired Hartford, Wisconsin-based Pallet USA, LLC, company announced. The acquisition expands Universal’s industrial product capacity and services in the Midwest.
Pallet USA operates one facility that manufactures pallets and crates. The company also distributes industrial lumber and sheet stock and provides services such as heat treating, pallet removal and recycling, custom product design, delivery and managed inventory programs. Bruce Church, president and CEO of Pallet USA, will remain with the operation as general manager of operations through 2019, then transition into a consulting role to assist with new sales efforts to national customers.
These are the main product areas UFP lists on their website.
“We’re excited to welcome Pallet USA to the UFP family of companies,” stated Matthew J. Missad, CEO of Universal Forest Products. “The acquisition allows us to grow our presence in the Milwaukee area and will help us serve manufacturers that have a larger regional, national or international presence. Pallet USA also operates a profitable pallet reclamation business, providing customers with a cost-effective solution for their wood pallet needs, that could be scaled to other UFP facilities. Bruce Church and his team have done an excellent job growing their business, and we’re excited to help them achieve their full potential.”
“As a UFP company, we see great opportunities for serving both Pallet USA customers and existing Universal customers,” said Bruce. “We will be able to enhance our presence in the market while adding more product and service offerings. Universal’s size will also allow us to provide our employees with greater career opportunities. This is a great time in the history of our company.”
Universal Forest Products, Inc. is a holding company whose subsidiaries supply wood, wood composite and other products to three robust markets: retail, construction and industrial. Founded in 1955, the Company is headquartered in Grand Rapids, Mich., with affiliates throughout North America, Europe, Asia and Australia.