Logout
Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
Search
My Profile
Login
UFP Global Holdings Ltd. acquires controlling interest in Palets Suller Group, Spain
Print
SPAIN (News release) -- UFP Global Holdings Ltd., a subsidiary of UFP Industries, Inc., has acquired 80% of the equity in a newly formed company, UFP Palets y Embalajes SL, for approximately $52 million. UFP Palets is comprised of the former pallet manufacturing operations of Palets Suller SL, Serrería y Palets Chiva SL and Drevex Castellón SL, collectively known as Palets Suller Group. The company had trailing 12-month sales of approximately $38 million through August 2023.

Headquartered in Castellón, Spain, Palets Suller is the market leader in machine-built wood pallets, serving the region's ceramic tile industry as well as other industries. Spain is one of the largest ceramic tile manufacturing export markets in the world. Founder and CEO Samuel Suller Oliver will retain a 20% stake in the company and continue as executive director, managing the day-to-day operations. He will be joined by UFP veteran Alex Kladt, who will work with the Palets Suller leadership team to scale the business and achieve operating synergies.

"Palets Suller provides a strong foundation to expand into Spain and grow our value-added packaging business in Europe," said Dick McBride, UFP Global's executive vice president. "Samuel and his experienced team have built an impressive and efficient business, and we look forward to learning from them and helping them expand into new markets. This is another step in our goal to be the preferred global packaging solutions provider."

"We are excited to join the UFP Industries family of companies and eager to pursue the new business opportunities this combination will bring to us," said Samuel Suller Oliver. "We're pleased for our people, who will have new opportunities for growth and the rewards that come with being part of a large, successful multinational corporation. And we're pleased for our customers because we will be able to offer the same quality products and level of service they've grown to expect from us, while adding new products and support from the capabilities of other UFP companies."

You get lots of valueless email, sign up for newsletters that can promote your career.

 

Related Articles:


Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: