BONNER, Mt. - Multi-billion dollar wood product giant Universal Forest Products (UFP) is set to purchase pre-painted building material maker Northwest Painting, a $14 million company.
The purchase will enable UFP to expand its presence in the Northwest U.S., allowing greater production of value-added siding and trim. Northwest Painting operates two facilities in the region - one in Bonner, Montana and another in White City, Oregon.
UFP has been on an acquistion spree since 2018. In the first four months of 2018, it acquired four companies: Great Northern Lumber, Spinner Wood Products, Deer Park, and Fontana Wood Products. Total annual sales for the acquired companies were around $50 million. In May 2019, UFP acquired Michigan-based Wolverine Wood Products.
The $4 billion UFP is a public company that employs over 11,000 workers across 130 facilities throughout Asia, Australia, Europe, and North America. Backed by recent acquisitions and new products, company shares have surged 50 percent so far in 2019 alone. That's compared to the industry's overall growth of 17.1 percent.
Universal Forest Products, Inc. is a holding company whose subsidiaries supply wood, wood composite, and other products to three robust markets: retail, construction and industrial. Founded in 1955, the company is headquartered in Grand Rapids, Mich., with affiliates throughout North America, Europe, Asia, and Australia.
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