Key Takeaways
UFP Industries Inc. (NASDAQ: UFPI) will acquire the assets of Berry Pallets for approximately $20 million, a cash deal that expands its industrial packaging footprint into the upper Midwest and continues its strategy of growth through acquisition.
"This acquisition is fundamentally about strengthening our core business and adding capacity where we see long-term opportunity," Will Schwartz, CEO of UFP Industries, said in a statement. "Berry Pallets has built a well-run operation with a talented team, loyal customers and a track record of consistent performance."
The acquisition includes the operating assets and real estate of the Waseca, Minnesota-based pallet manufacturer. The deal will add approximately $23 million in annual sales and 75 employees to UFP. The transaction is expected to close on or around May 18, 2026.
The purchase is the latest in a series of bolt-on acquisitions for UFP Industries, which has consistently used M&A to expand its core businesses. The company acquired C&L Wood Products in January 2025 and the assets of MoistureShield in April 2026 to bolster its Deckorators division. This pattern of acquiring smaller, regional operators allows the company to integrate new capacity and geographic reach into its national network.
The Berry Pallets facility will be integrated into UFP Packaging’s PalletOne network. "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," said Scott Worthington, President of UFP Packaging.
With a market capitalization of $5.39 billion, UFP Industries maintains a strong balance sheet, with a current ratio of 4.59 and more cash than debt, according to company filings. The company has a track record of rewarding shareholders, having raised its dividend for 13 consecutive years. The most recent quarterly dividend of $0.36 per share is payable on June 15, 2026.
This article is for informational purposes only and does not constitute investment advice.
