GRAND RAPIDS, Mich., March 29, 2021 (World NEWSWIRE) — UFP Industries, Inc. (Nasdaq: UFPI) today introduced that Handprint, the rising dwelling and décor enterprise device of UFP Retail Solutions, has signed an arrangement to purchase the functioning belongings of Walnut Hollow Farm, Inc. Pending customary closing disorders, the acquisition is predicted to close by the finish of April 2021.
Founded by the Ladd household in 1972 and centered in Dodgeville, Wisconsin, Walnut Hollow provides a assortment of finely completed wood surfaces used in interest, craft and woodworking tasks, as well as in taxidermy. The organization also sells its possess line of woodburning equipment and extras. Walnut Hollow had sales of close to $11 million in 2020. President Sandra Ladd Bartelt and CFO Chris Ladd will go away the corporation and go on to serve as consultants for a specified time to assure the clean changeover of leadership duties.
“Walnut Hollow delivers us a new and one of a kind blend of all set-to-make wood goods and wood equipment that consumers really like for their outstanding high quality,” reported Jennifer Meyer, running director of Handprint. “The enterprise is the leader in bark-edge basswood and basswood finishing methods, with sturdy relationships among interest and craft shops. We appear forward to expanding the company’s shopper relationships and revenue in new retail channels as perfectly as acquiring synergies for our whole line of dwelling décor and craft merchandise.”
“Walnut Hollow is not only specific to us since the organization was started by our dad and mom, but simply because it has authorized us to have a good effect on the life of our workers and people in our neighborhood,” claimed Sandra Ladd Bartelt and Chris Ladd. “With UFP, we feel like we have observed the greatest companion for continuing our family’s legacy. We are content to know our organization and workforce will have good prospects forward as portion of the UFP spouse and children.”
UFP Industries, Inc.
UFP Industries is a holding firm whose operating subsidiaries – UFP Industrial, UFP Design and UFP Retail Answers – manufacture, distribute and provide a large wide variety of benefit-included products and solutions made use of in residential and business construction, packaging and other industrial programs around the globe. Launched in 1955, the firm is headquartered in Grand Rapids, Michigan, with affiliate marketers in North America, Europe, Asia and Australia. For more about UFP Industries, go to www.ufpi.com.
This push release is made up of forward-hunting statements inside of the indicating of Part 21E of the Securities Trade Act, as amended, that are primarily based on management’s beliefs, assumptions, latest anticipations, estimates and projections about the marketplaces we serve, the economic system and the Company itself. Terms like “anticipates,” “believes,” “confident,” “estimates,” “expects,” “forecasts,” “likely,” “plans,” “projects,” “should,” variants of these types of text, and very similar expressions establish this kind of ahead-on the lookout statements. These statements do not promise upcoming performance and include sure pitfalls, uncertainties and assumptions that are difficult to predict with regard to timing, extent, chance and degree of event. The Firm does not undertake to update forward-looking statements to mirror points, circumstances, activities, or assumptions that occur just after the date the ahead-on the lookout statements are produced. Genuine effects could vary materially from those people included in this sort of forward-on the lookout statements. Buyers are cautioned that all forward-searching statements involve challenges and uncertainty. Amongst the factors that could trigger actual results to differ materially from forward-searching statements are the next: fluctuations in the selling price of lumber adverse or strange temperature disorders adverse economic conditions in the markets we serve federal government regulations, particularly involving environmental and safety regulations and our skill to make profitable enterprise acquisitions. Specific of these hazard things as effectively as other danger things and supplemental info are integrated in the Company’s reviews on Sort 10-K and 10-Q on file with the Securities and Trade Fee.
—————AT THE Enterprise—————
VP, Business Outreach