Universal Forest Products is venturing outside of North America by acquiring a majority interest in Integra Packaging, a manufacturer and distributor of integrated packaging products based in Brisbane, Australia. Source: MLive
Terms of the acquisition were not disclosed in a news release issued by Universal.
“Founded in 1995, Integra has two locations in Eastern Australia, where it manufactures wood specialty packaging,” the news release said.
“It also distributes packaging products and performs on-site packaging services for a number of industries.”
With anticipated sales of US$12 million in 2015, Integra also has exclusive distribution agreements for Australia with global packaging enterprises.
Universal reported annual sales of US$2.5 billion in 2013.
“The acquisition supports Universal’s plan to grow internationally in markets and with multinational customers it serves in the US, the company said.
Although Universal has operations in Mexico and Canada, it is the first acquisition outside of North America.
“Integra provides a strong opportunity for our foray into new international markets,” said Universal CEO Matthew J. Missad.
“It has a track record of success and a commitment to providing solutions to its customers. It utilizes creativity that we can expand to our existing markets and, most importantly, it has a talented, hard-working team of people who are driven to grow and prosper.
“Under the stewardship of Dick Gauthier, our vice president of International Development, we expect big things from partnering up with Integra.”
“Being part of the Universal family of companies provides a great opportunity for Integra to expand in Australia and beyond,” said Roger Till, managing director for Integra.
“We are eager to help Universal achieve its international growth goals and to be part of its success.”
Universal is a holding company that provides capital, management and administrative resources to subsidiaries that supply wood, wood composite and other products to three markets: retail, construction and industrial.
