UFP acquires pallet producer John Rock assets in $48m deal

UFP Industries has purchased the operating assets of John Rock, a pallet shaper successful Coatesville, Pennsylvania, US, successful a transaction worthy astir $48m.

The woody extends the determination footprint of UFP’s PalletOne’s concern portion successful the north-eastern US.

UFP Industries bought PalletOne successful 2020, acquiring each of its equity for $232m.

Owned by Kamps Pallets, John Rock makes caller pallets successful Pennsylvania and Virginia.

UFP Industries is taking implicit 3 of its 4 operating facilities: Coatesville, Pennsylvania; Mifflintown, Pennsylvania; and Bowling Green, Virginia.

The sawmill successful Dilwyn, Virginia, is not portion of the transaction and volition enactment with the seller.

According to UFP Industries, the 3 sites being acquired make $82m successful yearly income and employment adjacent to 250 people.

The statement covers John Rock's main operating assets, allowing accumulation and lawsuit work to proceed without interruption.

The facilities volition go portion of PalletOne’s existing manufacturing network.

UFP Industries said the acquisition adds capableness successful a cardinal marketplace and supports its packaging and concern operations successful serving customers crossed aggregate regions.

UFP Industries CEO Will Schwartz said: "This acquisition is fundamentally astir strengthening our halfway packaging concern and expanding our footprint successful a portion wherever we spot long‑term opportunity.

"John Rock has built a well‑established pallet manufacturing cognition with beardown lawsuit relationships and experienced teams. Bringing this concern into PalletOne enhances our quality to service customers crossed the north-east and positions america to unlock worth done operational synergies and scale."

Last year, UFP Industries acquired the assets of US-based pallets shaper C&L Wood Products, which was besides integrated into PalletOne.

"UFP acquires pallet shaper John Rock assets successful $48m deal" was primitively created and published by Packaging Gateway, a GlobalData owned brand.

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