US – UFP Packaging, a subsidiary of US-based holding company UFP Industries, has completed the acquisition of corrugated packaging manufacturer Titan Corrugated and its affiliate All Boxed Up.
The combined companies had trailing 12-month sales through October 2022 of approximately US$46.5 million.
Founded in 2003 by Jon Reneau, Titan’s primary products include boxes used in moving and storage, jumbo boxes for industrial products, corrugated shipping containers, and point-of-purchase displays.
Following the acquisition, Titan founder Jon Reneau and his leadership team will continue with the company.
Reneau said: “I am proud of the team at Titan and am excited by the opportunities that will come to us as part of the UFP family of companies.
“We look forward to helping drive UFP’s mission to become the leading global packaging solutions provider.”
Commenting on the deal, UFP Packaging vice president Chuck Krawczak said: “We are thrilled that the Titan companies have joined UFP Packaging as our cornerstone corrugated conversion facility.
“Jon and his team built a model that we plan to replicate in target geographic markets where we can utilize both customer and distribution synergies.
“Titan’s operations are highly automated and overseen by talented team members dedicated to serving the customer. We can learn from their use of automation and robotics, and Titan will benefit from our support staff, capital and extensive customer base.”
All Boxed Up distributes common box sizes manufactured by Titan throughout the United States.
UFP Industries is a holding company whose operating subsidiaries – UFP Industrial, UFP Construction and UFP Retail Solutions – manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide.
With the acquisition, UFP is enabled to expand its ability to provide a wide range of industrial packaging products to its customers.
In December last year, UFP Packaging acquired Advantage Label & Packaging, a provider of industrial packaging labels and associated equipment for US$16 million.
Advantage Label is engaged in providing blank and customized labels, printers, label applicators and other packaging supplies.
The company serves beer and beverage, body armor, food production and processing, greenhouse and nursery, hobby and craft, manufacturing and automotive industries.
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