GRAND RAPIDS — Universal Forest Products Inc. has purchased its second Australian firm.
According to a statement, a subsidiary of the Grand Rapids-based Universal Forest (Nasdaq: UFPI) acquired all the outstanding shares of The UBEECO Group Pty. Ltd., based in Erskine Park, Australia, a Sydney suburb.
UBEECO, which makes and distributes wood packaging and other materials including boxes, crates, pallets and skids, generated about $21.2 million in sales for the 2016 fiscal year.
The deal for UBEECO marks Universal Forest Products’ second acquisition of an Australian firm, following the transaction for a majority interest in Integra Packaging Proprietary Ltd. in January 2015.
Universal Forest Products CEO Matt Missad called UBEECO a leading industrial packaging company in Australia with a strong leadership team.
“They have an excellent reputation for quality products and customer service, they’re growing, and they have ambitious goals — and we value all of that,” Missad said in a statement.
The deal will “create opportunities for synergies” between Universal Forest Products’ two Australian holdings, according to Missad.
UBEECO’s cofounder and managing director remain with the company after the deal.