GRAND RAPIDS, Mich., March 29, 2021 (World NEWSWIRE) — UFP Industries, Inc. (Nasdaq: UFPI) currently announced that Handprint, the rising property and décor small business device of UFP Retail Methods, has signed an arrangement to acquire the running belongings of Walnut Hollow Farm, Inc. Pending customary closing ailments, the acquisition is predicted to near by the conclusion of April 2021.
Launched by the Ladd spouse and children in 1972 and primarily based in Dodgeville, Wisconsin, Walnut Hollow provides a wide range of finely finished wooden surfaces made use of in hobby, craft and woodworking initiatives, as properly as in taxidermy. The company also sells its own line of woodburning tools and equipment. Walnut Hollow experienced revenue of somewhere around $11 million in 2020. President Sandra Ladd Bartelt and CFO Chris Ladd will go away the enterprise and keep on to provide as consultants for a specified time to guarantee the clean transition of leadership duties.
“Walnut Hollow provides us a new and one of a kind blend of completely ready-to-make wood items and wood resources that consumers love for their excellent good quality,” explained Jennifer Meyer, controlling director of Handprint. “The firm is the chief in bark-edge basswood and basswood finishing tactics, with sturdy interactions amongst passion and craft stores. We glimpse ahead to expanding the company’s purchaser interactions and profits in new retail channels as nicely as building synergies for our whole line of home décor and craft merchandise.”
“Walnut Hollow is not only specific to us mainly because the business was launched by our dad and mom, but simply because it has allowed us to have a favourable impression on the lives of our employees and those people in our community,” claimed Sandra Ladd Bartelt and Chris Ladd. “With UFP, we sense like we have discovered the very best husband or wife for continuing our family’s legacy. We are happy to know our corporation and employees will have great prospects forward as section of the UFP spouse and children.”
UFP Industries, Inc.
UFP Industries is a holding firm whose running subsidiaries – UFP Industrial, UFP Building and UFP Retail Alternatives – manufacture, distribute and market a broad assortment of price-added goods utilised in residential and commercial building, packaging and other industrial purposes around the globe. Launched in 1955, the company is headquartered in Grand Rapids, Michigan, with affiliates in North The us, Europe, Asia and Australia. For extra about UFP Industries, go to www.ufpi.com.
This push launch includes ahead-on the lookout statements in just the indicating of Area 21E of the Securities Trade Act, as amended, that are primarily based on management’s beliefs, assumptions, recent expectations, estimates and projections about the marketplaces we provide, the financial state and the Business alone. Text like “anticipates,” “believes,” “confident,” “estimates,” “expects,” “forecasts,” “likely,” “plans,” “projects,” “should,” variations of such text, and similar expressions recognize this sort of ahead-searching statements. These statements do not warranty future general performance and include sure hazards, uncertainties and assumptions that are challenging to forecast with regard to timing, extent, probability and degree of incidence. The Business does not undertake to update ahead-wanting statements to replicate specifics, instances, occasions, or assumptions that come about right after the date the forward-searching statements are made. Actual results could vary materially from all those bundled in this sort of ahead-seeking statements. Investors are cautioned that all ahead-looking statements require hazards and uncertainty. Among the the components that could result in real final results to differ materially from forward-seeking statements are the next: fluctuations in the cost of lumber adverse or unconventional weather conditions conditions adverse financial problems in the markets we serve governing administration regulations, specifically involving environmental and security restrictions and our skill to make effective enterprise acquisitions. Particular of these possibility components as perfectly as other risk variables and additional info are included in the Company’s experiences on Sort 10-K and 10-Q on file with the Securities and Exchange Fee.
—————AT THE Firm—————
VP, Enterprise Outreach