Universal Forest Products announced one of its affiliates has acquired the operating assets of Grand Rapids, Mich.-based Wolverine Wood Products. Wolverine Wood Products, founded in 2008, manufactures wood panel components for furniture, store fixtures, and case goods. The company anticipated annual sales of $5 million, according to a press release from Universal Forest Products.

Universal Forest Products said the acquisition will expand the holding company’s capacity to produce value-added wood components for customers in the Midwest. Mike Peterson, owner and president of Wolverine Wood Products, will remain with the manufacturer after the acquisition.

“Wolverine Wood Products has grown quickly by using automation and robotics to provide its customers with the value-added services and pricing that other companies can’t provide,” said Universal Forest Products CEO Matt Missad. “We’re fortunate to have Mike Petersen and his team join the Universal family of companies. Mike has 32 years of experience in sales and automation integration, and he’s leveraged it into a successful and quickly growing business.”

Grand Rapids, Mich-based Universal Forest Products is a holding company with subsidiaries that produce and supply wood, wood composite, and other products to the retail, construction, and industrial markets.