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Published in Manufacturing

UFP Industries acquires neighboring industrial packaging company

BY Tuesday, December 21, 2021 03:58pm

GRAND RAPIDS TWP. — Global wood products manufacturer UFP Industries Inc. has completed yet another acquisition to likely cap an active 2021, and the latest purchase is poised to bolster the company’s industrial packaging segment.

The highly acquisitive, Grand Rapids Township-based UFP announced this week that it has acquired Advantage Label & Packaging Inc. in Cascade Township. UFP Industries acquired the company for $16 million, while the transaction also included $2.9 million for related real estate in addition to incentive payments of up to $4.5 million over five years that are based on performance goals.

Chuck Krawczak COURTESY PHOTO

Advantage Label — which specializes in customized labels, printers, label applicators and other packaging supplies — serves a variety of industries including beverage, food processing, greenhouse and nursery, manufacturing and automotive.

“Advantage Label’s full suite of labeling solutions, including equipment like Line Boss, a proprietary label application machine for agricultural containers, expands UFP’s ability to provide customers a broad spectrum of industrial packaging products,” said Chuck Krawczak, vice president of UFP Packaging, the UFPI affiliate that made the purchase. 

“Companies associated with packaging and tracking packages are growing quickly, and the addition of Advantage Label will allow us to participate in that growth,” Krawczak said in a statement.

UFPI announced that it will retain key leadership for Advantage Label, including president Brad Knoth.

“I am proud of the successful team at Advantage Label and am excited by the opportunities this transaction offers us,” Knoth said in a statement. “By joining the UFP family of companies, Advantage Label can make investments that will expand our capacity and reach. We look forward to contributing to UFP’s mission to become the leading global packaging solutions provider.”

UFP Industries has now completed eight acquisitions in 2021, two of which were deals struck in Australia, and another one in India. 

The busy year of dealmaking also included the purchase of Greer, S.C.-based Spartanburg Forest Products, which added additional pressure-treating capacity for the company with its $543 million in annual sales.

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