Sunbelt Forest Products Corporation, a wholly owned subsidiary of UFP Industries, closed on an agreement to purchase the net operating assets of Spartanburg Forest Products and its affiliates.
The purchase price for the company’s property, plants, and equipment is approximately $16.5 million, according to a news release. Sunbelt also purchased Spartanburg’s net working capital for an amount of approximately $146.5 million.
“This acquisition will allow Sunbelt to grow by offering more products to Spartanburg’s customers while expanding our capacity and geographic reach to serve our existing customers,” Ken DelleDonne, president of Sunbelt Forest Products, said in a prepared statement. “In addition, we expect to drive efficiencies in our supply chain and administrative services as we combine our operations. We’re excited to welcome the Spartanburg team to Sunbelt and look forward to building an even stronger future together."
Greer, S.C.-based Spartanburg Forest Products and affiliates are a wood treating operation with locations in five states. The company’s affiliates include Appalachian Forest Products, Innovative Design Industries, Blue Ridge Wood Preserving, Blue Ridge Wood Products, and Tidewater Wood Products.
Bartlow, Fla.-based Sunbelt Forest Products Corporation is a producer of pressure-treated lumber and residential fencing in the southeast. The company is an affiliate of UFP Retail Solutions, which is a subsidiary of Grand Rapids, Mich.-based UFP Industries.
