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UFP Industries builds momentum in Australia with latest acquisition Photo courtesy of The UBEECO Group Pty. Ltd.

UFP Industries builds momentum in Australia with latest acquisition

BY Tuesday, November 02, 2021 02:31pm

GRAND RAPIDS TWP. — Wood products manufacturer UFP Industries Inc. continues to expand its presence in Australia after announcing yet another acquisition in the country.

UFP’s wholly owned subsidiary The UBEECO Group Pty. Ltd. announced Monday that it has acquired the assets of The Box Pack Trust, which does business as Boxpack Packaging.

The Melbourne-based business specializes in flexographic and lithographic cardboard packaging with a reach in the food and beverage, confectionary, pharmaceutical, industrial and agricultural industries.

Terms of the deal were not disclosed. In the previous 12 months, Boxpack Packaging generated sales of $8.2 million Australian, or $6.1 million.

UFP Industries (Nasdaq: UFPI), which first entered the Australian market with an acquisition in 2015, announced that it would keep Boxpack founder and Director Andrew Moloney with the company to oversee the transition.

“Our goal is to be a global packaging solutions provider,” UFP Industries CEO Matt Missad told MiBiz in an exclusive interview for an upcoming edition. “When we look at international, I want to make sure we’re looking at countries where we can be successful — that have the rule of law and business metrics and a business environment that is reasonably friendly.”

UFP Industries has a presence in several countries, including India, China, Japan, the United Kingdom, Mexico and Canada.

“We’ll work with our multinational customers and try to be there where they need us to be,” Missad said. “We’ll also source materials — and have for many years — from around the world. That sourcing piece of our international group is very important, especially when the lumber market goes crazy like it did in the last 18 months or so. We’re able to utilize wood from different parts of the world to help (address) the supply challenges.”

UFP down under

UFP Industries continues to build momentum in Australia, where it first gained a foothold in 2015 by acquiring a majority interest in industrial packaging manufacturer Integra Packaging Proprietary Ltd. 

In 2016, UFP purchased what it considered to be Australia’s leading industrial packaging company in The UBEECO Group, which makes and distributes wood packaging and other materials such as boxes, crates and pallets. 

Earlier this year, UBEECO Group purchased Sydney-based J.C. Gilmore Pty. Ltd., which is widely known in the country as Gilmores.

Gilmores is a distributor for the industrial and construction industries, specializing in packaging tapes, stretch films, packaging equipment, strapping and construction protection products.

The prior acquisitions all led to the most recent deal for Boxpack Packaging.

“The addition of Boxpack brings us closer to our goal of becoming the leading packaging solutions provider in Australia and provides UBEECO with a broader portfolio of packaging solutions,” Dick McBride, executive vice president of International Operations for UFP Industries, said in a statement. “We can now offer customers everything from pallets, crates and skids to a range of corrugated and consumable packaging solutions.”

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