Universal Forest Products (UFPI) has completed acquisition of the operating assets of North American Container (NACC) for an undisclosed amount.
The deal to acquire NACC, a US-based manufacturer of structural packaging products, was initially signed by UFPI’s one of the subsidiaries in March this year.
The acquisition will help expand UFPI’s capabilities and market opportunities through adding steel, corrugated and hardwood packaging to its portfolio of industrial products.
Universal CEO Matthew Missad said: “With NACC as part of the Universal family of companies, we have created a robust, industry-leading offering of structural packaging products.”
Established in 1967, NACC operates nine manufacturing facilities in Georgia, South Carolina, Tennessee and Wisconsin.
The deal will also enhance the firm’s capacity and support it to expand into geographic areas identified as opportunities for growth, including South Carolina and Tennessee.
UFPI said the deal allows the company to offer customers with additional solutions for packaging and crating needs, as well as enhance manufacturing through automation.
In addition, the deal provides customers with opportunity to purchase corrugated, steel and lumber packaging from a single supplier.
NACC CEO John Grigsby Jr said: “We are excited to be part of the Universal family of companies as it continues its trajectory of success, and to embark on this exciting phase of our company’s growth and opportunity.
“This allows us to serve even more customers with the best products and solutions in the industry, and to provide our employees and stakeholders with ongoing opportunities for success.”
UFPI is a holding company that offers capital, management and administrative resources to subsidiaries, which supply wood, wood composite and other products to three market segments, including retail, construction and industrial.
Established in 1955, UFPI I operates from its headquarters in Grand Rapids of Michigan. It has subsidiaries across North America, Australia, Europe and Asia.