UFP Industries Expands Pallet Manufacturing Network Through Acquisition

UFP Industries (NASDAQ: UFPI) agreed to acquire the operating assets and real estate of Berry Pallets in Waseca, Minnesota for approximately $20 million, adding about $23 million of annual sales and 75 employees.

Rhea-AI Summary

UFP Industries (NASDAQ: UFPI) agreed to acquire the operating assets and real estate of Berry Pallets in Waseca, Minnesota for approximately $20 million, adding about $23 million of annual sales and 75 employees. The facility will join UFP Packaging's pallet network and is expected to close on or around May 18, 2026.

This expands UFP Packaging's capacity and geographic presence in the upper Midwest, adding immediate production capability and longer-term optionality to serve national customers.

Positive

• $23M added annual sales
• Acquisition price of approximately $20M
• Adds 75 experienced employees
• Expands pallet footprint in the upper Midwest
• Expected close on or around May 18, 2026

Negative

• None.

Argus Apr 28 session

-0.25% close to close Open Argus

Details

News Market Reaction – UFPI

In the Apr 28 session, UFPI declined 0.25%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement adds Berry Pallets’ $23 million in annual sales and 75 employees to UFP Packaging ...

Analysis

This announcement adds Berry Pallets’ $23 million in annual sales and 75 employees to UFP Packaging for about $20 million, extending UFPI’s pallet footprint in the upper Midwest. It fits a recent pattern of acquisitions and capacity investments, such as MoistureShield and Deckorators projects. Investors may watch how quickly new assets are integrated, the contribution to segment growth, and management’s commentary on returns versus building greenfield capacity in upcoming disclosures.

Key Figures

Purchase price: $20 million Added annual sales: $23 million Employees acquired: 75 employees +5 more

Purchase price

$20 million

Berry Pallets operating assets and real estate

Added annual sales

$23 million

Berry Pallets trailing annual sales contribution

Employees acquired

75 employees

Berry Pallets staff joining UFP Packaging

Dividend per share

$0.36

Quarterly cash dividend payable June 15, 2026

Dividend increase

3%

Increase vs 2025 dividend rate

Deckorators investment

$77 million

Lackawanna, NY Deckorators facility investment

Expansion plan

$250 million

Five-year Deckorators expansion plan

C&L Wood sales

$24.8 million

Trailing 12-month sales through Nov 2024

Previous Acquisition Reports

3 past events · Latest: Apr 06

Same Type 3 events

1. Apr 06

   Capacity acquisition

   24h Move

   +0.3%

   MoistureShield assets added to expand Deckorators WPC capacity and brands.

2. Mar 31

   Facility acquisition

   24h Move

   +0.7%

   30-acre Deckorators site purchase to double Surestone capacity and add jobs.

3. Jan 06

   Pallet maker buyout

   24h Move

   +0.6%

   C&L Wood Products acquisition expanding PalletOne footprint in Alabama/Tennessee.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

8-k, form 4, phantom stock units, deferred compensation plan

4 terms

8-k regulatory

"recent_filings":[{"form_type": "8-K","date": "2026-04-23""

An 8-K is a public report companies must file with the U.S. Securities and Exchange Commission to disclose major events or changes that shareholders should know about, such as leadership changes, mergers, financial surprises, or legal developments. It matters to investors because it acts like a breaking-news alert for a company’s health and prospects—providing timely facts that can affect stock value and investment decisions.

View in glossary

form 4 regulatory

""form_type": "4","date": "2026-04-02","title": "[Form 4] UFP"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

View in glossary

phantom stock units financial

"received a grant of 15 phantom stock units."

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

deferred compensation plan financial

"These units were accrued under the company’s Deferred Compensation Plan"

A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

GRAND RAPIDS, Mich., April 28, 2026 /PRNewswire/ -- UFP Industries (NASDAQ: UFPI) today announced the acquisition of the operating assets, including real estate, of Berry Pallets, Inc., a pallet manufacturer based in Waseca, Minnesota for approximately $20 million. The transaction expands UFP Packaging's pallet manufacturing footprint and strengthens UFP Packaging's ability to serve customers across the upper Midwest.

Berry Pallets designs and manufactures new pallets from its facility in Waseca. The acquisition adds approximately $23 million in annual sales and brings 75 experienced employees into the UFP family, further deepening UFP Packaging's geographic presence in a key region.

This acquisition strengthens a core business for UFP Industries and positions UFP Packaging for continued growth in the wood-based industrial packaging market. The transaction provides immediate capacity and long-term optionality to serve a growing customer base.

"This acquisition is fundamentally about strengthening our core business and adding capacity where we see long-term opportunity," said Will Schwartz, CEO of UFP Industries. "Berry Pallets has built a well-run operation with a talented team, loyal customers and a track record of consistent performance. Bringing them into the PalletOne network expands our presence in the upper Midwest, enhances our ability to serve national customers across the region, and is consistent with our strategy of disciplined investment in businesses that align with our strengths."

The Berry Pallets facility will be integrated into UFP Packaging's existing pallet manufacturing network, creating opportunities to leverage UFP's operational scale, procurement advantages, and national customer relationships — while maintaining the local expertise and customer focus that has defined Berry Pallets' success.

"We're excited to welcome the Berry Pallets team to our UFP family and build on their strengths and experience," said Scott Worthington, President, UFP Packaging. "This represents a strong strategic fit for UFP Packaging and positions us well for continued success, greater services to our customers and future opportunities throughout the region."

The acquisition underscores UFP Industries' continued focus on investing in core businesses, expanding manufacturing capacity to serve national customers, and strengthening the competitive position of its operating companies across packaging and industrial markets.

The transaction is expected to close on or around May 18, 2026.

View original content to download multimedia:https://www.prnewswire.com/news-releases/ufp-industries-expands-pallet-manufacturing-network-through-acquisition-302756087.html

SOURCE UFP Industries, Inc.

FAQ

What did UFPI announce about the Berry Pallets acquisition on April 28, 2026?

UFP Industries announced it will buy Berry Pallets' operating assets and real estate for about $20 million. According to the company, the deal adds roughly $23 million in annual sales and brings 75 employees into UFP Packaging's pallet network.

How will the Berry Pallets purchase affect UFPI's pallet manufacturing capacity?

The acquisition immediately increases UFP Packaging's production capacity in the upper Midwest. According to the company, the Waseca facility provides immediate capacity and long-term optionality to serve a growing customer base and national customers across the region.

When is UFPI's acquisition of Berry Pallets expected to close and what are the terms?

The transaction is expected to close on or around May 18, 2026. According to the company, UFPI is acquiring operating assets and real estate for approximately $20 million, with the facility to be integrated into UFP Packaging's network.

How many employees and how much revenue does Berry Pallets add to UFPI?

Berry Pallets brings approximately 75 employees and about $23 million in annual sales to UFP Packaging. According to the company, the team and sales will deepen UFP's regional presence and support service to national customers.

What strategic benefits does UFPI say the Berry Pallets acquisition provides?

UFP Industries says the acquisition strengthens its core packaging business and expands regional reach in the upper Midwest. According to the company, it leverages operational scale, procurement advantages, and national customer relationships while preserving local customer focus.