UFPI to acquire PalletOne for $232 million
Comments GRAND RAPIDS, Mich. - UFP Industrial LLC has announced plans to acquire PalletOne Inc. for approximately $232 million. UFP also agreed to pay $18 million for PalletOne’s recent capital expenditures. UFP Industrial is a subsidiary of UFP Industries. The transaction is subject to a net working capital adjustment and is expected to close on Dec. 28, pending customary closing conditions and regulatory approval. The purchase price will be funded using the company’s cash reserves, which currently total more than $400 million. Based in Bartow, Florida, PalletOne is a leading U.S. manufa...
Source: woodworkingnetwork.com