UFP Industries agreed to buy the operating assets and real estate of Texas pallet maker Apache Products for approximately $27 million, expanding its industrial packaging business along the Gulf Coast.
The company announced the transaction Monday and said it expects closing on or around November 16. Apache Products operates as Acme Skid from Silsbee, Texas.
In its acquisition announcement, UFP said the business would add approximately $55 million in annual sales and 165 employees. Those sales describe the acquired business, not a forecast of profit from the transaction.
Gulf Coast pallet capacity
Apache designs and manufactures stringer and heat-treated pallets. Its facility will join UFP Packaging’s existing pallet manufacturing network, expanding the PalletOne business.
UFP said the purchase strengthens its ability to serve customers across the Gulf Coast, where manufacturing, energy and petrochemical operations create demand for industrial packaging.
Chief Executive Will Schwartz said the investment broadens UFP’s reach in a strategically important region and creates opportunities to serve national customers there.
The company plans to combine the acquired facility with its wider operating network while retaining Apache’s local expertise and customer focus.
UFP Industries is based in Grand Rapids, Michigan. Its operating subsidiaries manufacture, distribute and sell products for retail, construction and industrial markets in North America, Europe, Asia and Australia.
JBizNews Desk | Grand Rapids, Michigan
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