Grand Rapids’ Universal Forest Products Inc. today announced one of its subsidiaries has closed on the acquisition of the operating assets of Georgia’s North American Container Corp. (NACC), a manufacturer of structural packaging products. The acquisition adds steel, corrugated, and hardwood packaging to Universal’s portfolio of industrial products. Terms of the deal were not disclosed.
“We are pleased not only to be adding the capabilities and business of NACC, but also the great people who have built its success,” says Matthew J. Missad, CEO of Universal. “With NACC as part of the Universal family of companies, we have created a robust, industry-leading offering of structural packaging products.”
NACC has nine manufacturing facilities in Georgia, South Carolina, Tennessee, and Wisconsin. It was founded in 1967 and had sales of about $71 million in 2017. The acquisition allows Universal to expand into geographic areas identified as opportunities for growth, including South Carolina and Tennessee.
“We are excited to be part of the Universal family of companies as it continues its trajectory of success, and to embark on this exciting phase of our company’s growth and opportunity,” says John Grigsby Jr., CEO of NACC, who will remain with the company as operations vice president. “This allows us to serve even more customers with the best products and solutions in the industry, and to provide our employees and stakeholders with ongoing opportunities for success.”
Universal is a holding company that provides capital, management, and administrative resources to subsidiaries that supply wood, wood composite, and other products to the retail, construction, and industrial markets. The company was founded in 1955 and has affiliates throughout North America, Australia, Europe, and Asia.