UFP Industries acquires operating assets of John Rock for $48M

UFP Industries (UFPI) announced the acquisition of the operating assets of John Rock a new pallet manufacturer headquartered in Coatesville, Pa., for approximately $48M. The transaction fills a key gap in PalletOne’s geographic reach and strengthens UFP Packaging’s ability to serve national customers with a presence in the northeast region. John Rock, a subsidiary of Kamps Pallets, designs and manufactures new pallets across Pennsylvania and Virginia. UFP Industries is purchasing three of the four operating locations: Coatesville, Pa., Mifflintown, Pa. and Bowling Green, Va. The remaining sawmill at Dilwyn, Va. will remain with the seller. The acquisition of the three locations adds approximately $82M in annual sales and brings nearly 250 employees into the UFP family. The company said, “This acquisition strengthens a core business for UFP Industries and expands PalletOne’s scale in a strategically important geography. The transaction includes all key operating assets of John Rock, allowing for immediate manufacturing and service continuity while providing a strong platform for operational improvement and long-term growth. The acquired operations will be integrated into PalletOne’s existing manufacturing network, creating opportunities to improve efficiency, enhance service levels, leverage UFP’s procurement and operational capabilities, and growth with national customers – while maintaining the local expertise and customer focus that has defined John Rock’s success.”