Ufp industries, inc. closes on purchase of palletone, bolstering its position as the nation's preferred supplier of industrial packaging and pressure-treated lumber

Grand rapids, mich., dec. 28, 2020 (globe newswire) -- ufp industries, inc. (nasdaq: ufpi) today announced that ufp industrial, llc, closed on its agreement to purchase 100 percent of the equity of palletone, inc. for approximately $232 million. this price assumes a cash-free, debt-free balance sheet and an agreement to pay $21 million for palletone's recent capital expenditures and other investments. the palletone management team, including president howe wallace, will continue to lead the company.
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