UFP Industries, Inc. (UFPI) revealed on Monday that its subsidiary, UFP Packaging, has completed the acquisition of C&L Wood Products, a pallet and mulch manufacturer based in Hartselle, Alabama. The financial terms of the acquisition remain undisclosed.
C&L Wood Products will be integrated into UFP Packaging's PalletOne division, noted for being a leading producer of machine-made pallets in the United States.
According to the company, this acquisition enhances PalletOne's market presence in northern Alabama and central Tennessee. Additionally, C&L's President, Henry Bowman, and Operations Manager, Frank Janek, will continue in their roles within the company.
In pre-market trading on Nasdaq, UFP Industries' shares have risen by 0.96%, currently priced at $112.51.
