- Closes on previously announced acquisition of Florida-based wood treater -
GRAND RAPIDS, Mich., March 06, 2017 (GLOBE NEWSWIRE) -- Universal Forest Products, Inc. (NASDAQ:UFPI) today announced that one of its affiliates has closed on the purchase of certain assets of Quality Hardwood Sales, LLC, a Nappanee, Ind.-based manufacturer and supplier of hardwood products, including components for cabinets used in homes and recreational vehicles.
This is Universal’s first operation devoted to hardwood products and will expand the Universal portfolio while providing Quality Hardwood with additional markets for its products and the opportunity to grow its customer base and product offering. Quality Hardwood was founded in 2001 and has enjoyed steady success throughout its history. Net sales in 2016 were approximately $30 million. The current management team will remain with the company.
“Quality Hardwood has exceptional manufacturing expertise, a strong management team that’s staying on, and products that are known in the industry for their superiority. In addition, its leaders share our devotion to lasting customer relationships and to diversification and growth, and will be a great addition to the Universal family of companies,” said Universal CEO Matthew J. Missad.
Universal Forest Products also announced today that one of its affiliates closed on the purchase of a previously announced acquisition, Robbins Manufacturing Co., a Tampa, Fla.-based manufacturer of treated wood products with facilities in Florida, Georgia and North Carolina.
Founded in 1938, Robbins is a leading supplier of preservative-treated wood products. The company has two divisions, including Robbins Treating and Manufacturing, which operates six wood treating facilities in Florida, Georgia and North Carolina, including an operation in Tarrytown, Fla., which Robbins will continue to operate. The remaining five operations are included in the acquisition and had 2016 net sales of $86 million.