UFP Industries announced the purchase of Berry Pallets, Inc., a Minnesota‑based pallet manufacturer, for $20 million in cash. The deal adds the company’s Waseca, Minnesota facility and 75 experienced employees to UFP Packaging’s existing pallet network, and the acquisition is expected to generate roughly $23 million in annual sales once the transaction closes on May 18 2026.
The acquisition is positioned as a core‑business strengthening move that expands UFP’s geographic reach in the upper Midwest and enhances its ability to serve national customers. By integrating Berry Pallets into the PalletOne network, UFP aims to leverage existing customer relationships and capacity to drive growth in a region where demand for palletized goods remains robust.
Will Schwartz, UFP Industries’ CEO, said, "This acquisition is fundamentally about strengthening our core business and adding capacity where we see long‑term opportunity. 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." Scott Worthington, President of UFP Packaging, added, "We're excited to welcome the Berry Pallets team to our UFP family and build on their strengths and experience. 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."
UFP’s recent earnings context underscores the strategic value of the deal. In Q4 2025 the company reported an EPS of $0.70 versus a consensus of $1.06 and revenue of $1.33 billion against an estimate of $1.40 billion. The upcoming Q1 2026 earnings are expected to show an EPS of $1.15 and revenue of approximately $1.52 billion. The $23 million in incremental sales and the addition of 75 employees from Berry Pallets will help offset past misses and support the company’s revenue growth trajectory.
The acquisition strengthens UFP’s core packaging segment, expands its manufacturing footprint, and positions the company to capture additional market share in the upper Midwest. By adding capacity and customer relationships, UFP can better serve national customers and pursue further value‑added manufacturing opportunities while maintaining a strong balance sheet. The integration of the Waseca facility under the UFP Packaging brand is expected to generate synergies and reinforce the company’s disciplined investment strategy in core assets.
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