Universal Forest acquires majority stake in $12M Australian company
Universal Forest Products has acquired a packaging supplier to support its growth in international markets.
Universal Forest in Grand Rapids said today that one of its subsidiaries has closed on the purchase of a majority interest in Integra Packaging Proprietary, a maker and distributor of integrated packaging products based in Brisbane, Australia.
Founded in 1995, Integra Packaging has two locations in eastern Australia and makes specialty wood packaging products. It also distributes packaging products and performs on-site packaging services for a number of industries.
Universal Forest said Integra Packaging has exclusive Australia distribution agreements with global packaging enterprises.
Integra Packaging expects sales of $12 million in 2015.
Universal Forest said the acquisition supports its plan to grow internationally and with multi-national customers it serves in the U.S.
The Australian organization is “eager to help Universal achieve its international growth goals and to be part of its success,” said Roger Till, managing director, Integra Packaging Proprietary.
“Integra provides a strong opportunity for our foray into new international markets,” said Matthew Missad, CEO, Universal Forest Products.
Missad noted the quality of the team at Integra Packaging and said the company’s creativity could be expanded to Universal Forest’s existing markets.
Missad said Dick Gauthier, VP of International Development at Universal Forest, will oversee the partnership with Integra Packaging.
Universal Forest Products, founded in 1955, 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.