UFP Industries Announced Acquisition of SC Wood Treating Company Assets

SEATTLE (Scrap Monster): Grand Rapids, Michigan-headquartered UFP Industries Inc. announced that its wholly owned subsidiary company has reached an agreement to acquire the assets of a leading South Carolina wood treating company. The deal is expected to close by the end of Q1 2021.

Accordingly, Barstow, Fla.-based Sunbelt Forest Products Corporation will acquire Greer, S.C.-based Spartanburg Forest Products for a sum of $17 million. The deal covers property, plants and equipment, in addition to workforce comprising 300 employees. Incidentally, Spartanburg operates four wood treating facilities and one manufacturing facility. Together, these facilities had reported total sales of $543 million during the previous year.

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Stephen Michael, President and CEO, Spartanburg Forest Products will lead the transition process. The combination of both the companies will generate operational efficiencies that will enable both the companies to provide greater value for their customers as well as expand their capacity and geographic reach, Michael added. Ken DelleDonne, president of Sunbelt Forest Products noted that the addition of the Spartanburg team will help the company better serve its customers’ needs.

UFP Industries had been on an acquisition spree in 2020, with latest being the purchase of Florida-based PalletOne Inc.