UFPI signs LOI to acquire certain assets of treated wood company Robbins Manufacturing

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UFPIUniversal Forest Products, Inc. (NASDAQ:UFPI)  announced that one of its subsidiaries has signed a letter of intent to purchase certain assets of Robbins Manufacturing Co., a Tampa, Fla.-based manufacturer of treated wood products with facilities in Florida, Georgia and North Carolina.

Founded in 1938, Robbins is a leading supplier of preservative-treated wood products. The company has two divisions, including Robbins Treating and Manufacturing, which operates six wood treating facilities in Florida, Georgia and North Carolina, including an operation in Tarrytown, Fla., which Robbins will continue to operate. The remaining five operations are included in the acquisition and had 2015 net sales of $83 million. The acquisition is expected to close by the end of August 2016.

“For years, we have respected Robbins as a formidable competitor known for high-quality products and service, and for its integrity and culture of hard work and determination,” said Universal Forest Products Inc. CEO Matthew J. Missad. “They’re a great fit for us strategically and culturally. Bringing them into the Universal family of companies allows us to be an even stronger powerhouse in the preservative-treated market in the Southeast, and solidifies our position as the leading manufacturer of premier treated products in the United States.”

“After 75 years of ongoing success, we wanted to be assured that our company would be in the hands of the best, and that our people would have great futures ahead of them,” said Robbins Board Chairman Laurence W. Hall, Jr. “With this acquisition, we know our customers will be well-served by the leader in quality treated wood products, that our people will have opportunities that come with working for an industry leader, and that our path of growth will continue. We now can focus on our other division’s niche business of manufacturing and selling wood treated especially for pilings, poles, posts, and lumber for agricultural, marine, permanent wood foundation, and other applications.”

Source: Universal Forest Products, Inc.