What's Happening?
UFP Packaging, a division of UFP Industries, has expanded its national pallet manufacturing network by acquiring the operating assets of John Rock, Inc. and Berry Pallets, Inc. These acquisitions extend UFP Packaging's reach into the Northeast and Upper
Midwest, adding approximately $105 million in annual revenue and 375 employees. The acquisitions are part of UFP's strategy to enhance its ability to deliver large-scale pallet solutions to national customers, closing critical gaps in its geographic footprint.
Why It's Important?
The expansion of UFP Packaging's network is crucial for meeting the growing demand for consistent and reliable pallet solutions across the U.S. The acquisitions strengthen UFP's position as the largest single-source pallet manufacturer in the country, enabling it to better serve large, multi-region customers. This move aligns with UFP Industries' capital allocation strategy, focusing on core, higher-margin businesses and expanding manufacturing capacity to support national customers.
