UFPI acquires Milwaukee packaging company
Universal Forest Products, Inc. (UFPI) has acquired Pak-Rite, Ltd., a Milwaukee, Wis.-based packaging design and manufacturing firm.
UFPI has been ramping up its packaging division in the past year. Pak-Rite provides the company with a full range of packing solutions. From foam and plastic components to trademarked wood crating systems, Pak-Rite supplies packing for manufacturers of high-value products, including medical, aerospace and automation equipment.
From September 2018 through the previous 12-month period, Pak-Rite had sales of nearly $12 million. Kirk Blaha, former president of Pak-Rite, has been named general manager of operations. Founder and former CEO Rick Blaha is providing consulting services through the transition period.
“Pak-Rite aligns with our strategic objective to become the industry’s foremost packaging solutions provider,” said UFPI CEO Matthew J. Missad. “It has earned a reputation for extraordinary products and services, and we are excited to add them to our growing portfolio of packaging products.”
“We are excited for this new chapter of our business after more than 20 years of success,” said Kirk Blaha. “With the strength of Universal, we will be able to grow our customer base, products and design services, and offer more opportunity to our people. It is a winning situation all the way around, and we look forward to being part of the growing Universal family of companies.”
Based in Grand Rapids, Mich., UFPI is a holding company that provides capital, management and administrative resources to subsidiaries that supply the retail, construction, and industrial markets.
Earlier this month, UFPI reported third quarter net sales increased 15% to $1.2 billion from third quarter 2017 net sales of $1.06 billion. The company also reported net earnings attributable to controlling interest were $41.2 million for the third quarter, up 22% from earnings of $33.7 million for the same period last year. This marked the 13th consecutive quarter that the company has reported records in both net sales and net earnings.
UFPI has been ramping up its packaging division in the past year. Pak-Rite provides the company with a full range of packing solutions. From foam and plastic components to trademarked wood crating systems, Pak-Rite supplies packing for manufacturers of high-value products, including medical, aerospace and automation equipment.
From September 2018 through the previous 12-month period, Pak-Rite had sales of nearly $12 million. Kirk Blaha, former president of Pak-Rite, has been named general manager of operations. Founder and former CEO Rick Blaha is providing consulting services through the transition period.
“Pak-Rite aligns with our strategic objective to become the industry’s foremost packaging solutions provider,” said UFPI CEO Matthew J. Missad. “It has earned a reputation for extraordinary products and services, and we are excited to add them to our growing portfolio of packaging products.”
“We are excited for this new chapter of our business after more than 20 years of success,” said Kirk Blaha. “With the strength of Universal, we will be able to grow our customer base, products and design services, and offer more opportunity to our people. It is a winning situation all the way around, and we look forward to being part of the growing Universal family of companies.”
Based in Grand Rapids, Mich., UFPI is a holding company that provides capital, management and administrative resources to subsidiaries that supply the retail, construction, and industrial markets.
Earlier this month, UFPI reported third quarter net sales increased 15% to $1.2 billion from third quarter 2017 net sales of $1.06 billion. The company also reported net earnings attributable to controlling interest were $41.2 million for the third quarter, up 22% from earnings of $33.7 million for the same period last year. This marked the 13th consecutive quarter that the company has reported records in both net sales and net earnings.