UFP Industries subsidiary acquires 80% of Spanish pallet maker Palets Suller for ~$52M

UFP INDUSTRIES INC

80% equity in UFP Palets y Embalajes SL acquired for ~$52M USD.
Target Palets Suller Group had trailing 12-month sales of ~$38M through Aug 2023.
Founder Samuel Suller Oliver retains 20% stake and remains executive director.
Palets Suller is market leader in machine-built wood pallets serving Spain's ceramic tile industry.
Acquisition expands UFP's value-added packaging business in Europe; Alex Kladt joins leadership.

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