Grand Rapids, Michigan, USA 13 November 2014 -- (BUSINESS WIRE) -- Universal Forest Products, Inc. (NASDAQ: UFPI) today announced that one of its subsidiaries has closed on the acquisition of certain assets of Bigs Packaging and Lumber, LLC, a Dallas, Texas-based manufacturer of industrial wood and packaging solutions. The purchase by UFP Western Division, Inc. expands Universal's industrial business and enhances its opportunities and customer base.
Founded in 2011, Bigs quickly grew its business and reputation, and has been a strong player in the industrial business in Texas and nationally. The company had sales of approximately $50 million in the past year. Bryan Bigham, the president of Bigs, will maintain his role and will continue to lead efforts to grow Bigs Packaging.
"Bryan knows how to create success, market products and lead an outstanding team. We are excited to see his team continue their growth and expand the industrial business, which is one of our key strategic goals," said Universal CEO Matthew J. Missad.
In addition to Bigham, Andrew Hughes, industrial and packaging sales specialist, will maintain his role, as will other employees who meet Universal's criteria for employment.
Bigham said, "It's an honor that a corporation as strong as Universal values our company and people enough to join forces. I know Universal well and I know we're going to do great things together. We're anxious to help grow the industrial business, which presents so much opportunity."
UNIVERSAL FOREST PRODUCTS, INC. (NASDAQ: UFPI)
Universal Forest Products, Inc. is a holding company that provides capital, management and administrative resources to subsidiaries that design, manufacture and market wood and wood-alternative products for building materials retailers and wholesalers, structural lumber and other products for the manufactured housing and residential construction markets, and specialty wood packaging and components and packing materials for various industries. It has subsidiaries that provide framing services for the residential construction market in some parts of the country; that manufacture and market products used for concrete construction; and that offer lawn and garden products, such as trellises and arches, to retailers nationwide. Its consumer products operations offer a large portfolio of outdoor living products, including wood composite decking, decorative balusters, post caps and plastic lattice. Founded in 1955, Universal Forest Products is headquartered in Grand Rapids, Mich. Its subsidiaries operate facilities throughout North America. For more about Universal, go to www.ufpi.com.
Please be aware that: Any statements included in this press release that are not historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are based on the beliefs of the Company's management as well as on assumptions made by, and information currently available to, the Company at the time such statements were made. The Company does not undertake to update forward-looking statements to reflect facts, circumstances, assumptions or events that occur after the date the forward-looking statements are made. Actual results could differ materially from those included in such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Among the factors that could cause actual results to differ materially from forward-looking statements are the following: adverse lumber market trends, competitive activity, negative economic trends, government regulations and weather. Certain of these risk factors and additional information are included in the Company's reports on Form 10-K and 10-Q on file with the Securities and Exchange Commission.