Universal Forest acquires $21M company
A subsidiary of Universal Forest Products has acquired an Australian packaging company.
Grand Rapids-based Universal Forest Products said yesterday “one of its subsidiaries” acquired “all outstanding shares” of The UBEECO Group Pty, Ltd., a maker of industrial wood packaging based in Erskine Park, Australia.
UBEECO makes and distributes a variety of wood packaging and alternative material products: boxes, crates, pallets, skids, protection packaging, packaging accessories and loose lumber. It also offers on-site packing services for many customers.
The company’s FY 2016 sales were about USD $21.2 million.
Terms of the deal were not disclosed.
Chevalier Joseph Borg, co-founder and managing director of UBEECO, will remain on the team as part of the acquisition.
Borg said UBEECO will “leverage” Universal Forest’s resources to reach “new levels of success.”
This is the second Australian packaging company acquired by Universal Forest.
In 2015, a Universal Forest subsidiary purchased a majority interest in Integra Packaging Proprietary, Ltd., a maker and distributor of integrated packaging products based in Brisbane, Australia.
Matt Missad, CEO of Universal Forest Products, said UBEECO is “a leader” in the industrial packaging marketplace in Australia.
“With this acquisition, we strengthen our foothold in the Australian packaging market and create opportunities for synergies between our two Australian manufacturers, UBEECO and Integra Packaging,” Missad said.
Universal Forest Products is a holding company that provides capital, management and administrative resources to subsidiaries that supply wood, wood composite and other products to the retail, construction and industrial markets.