Arauco, global manufacturer of sustainable forest products, has agreed to purchase Flakeboard, a North American producer of panel products, the company announced today. A closing date and terms regarding the acquisition were not available.
Flakeboard operates seven production facilities throughout the U.S. and Canada products medium-density fiberboard (MDF), particleboard and thermally fused melamine panels.
“This acquisition further highlights Arauco’s intent to grow our composite panel business and solidifies our commitment to be a leading supplier of sustainable, high-quality forest products to the North American market,” said Francisco Figueroa, Arauco-USA General Manager. “We are very excited about the prospects ahead as we blend the talents and technology of Arauco-USA and Flakeboard.”
This is Arauco’s second North American purchase this year, following its January acquisition of an MDF and particleboard producing facility in Moncure, N.C. That facility will be combined with Flakeboard’s existing locations and operate under that name. The company will be led by Kelly Shotbolt, current president and CEO of Flakeboard.