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BUSINESS COMBINATIONS (Tables) | 3 Months Ended
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Mar. 27, 2021
BUSINESS COMBINATIONS |
Business Acquisitions Accounted for Using Purchase Method | We completed the following acquisitions in 2021 and since the end of March 2020, which were accounted for using the purchase method in thousands unless otherwise noted:
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Company | Acquisition | ​ | Intangible | Tangible | Operating
Name | Date | Purchase Price | Assets | Assets | Segment
​ | March 1, 2021 | $4,724 cash paid for 100% asset purchase and estimated contingent consideration | $ | 4,176 | $ | 548 | Other
J.C. Gilmore Pty Ltd (Gilmores) | Founded in 1988 and operating from its distribution facility in Port Melbourne, Australia, Gilmores is a leading distributor in the industrial and construction industries of packaging tapes, stretch films, packaging equipment, strapping, construction protection products and other items, with 2020 sales of $15 million AUD ($10 million USD).
​ | December 28, 2020 | $258,770 cash paid for 100% stock purchase | $ | 82,546 | $ | 176,224 | Retail/Industrial
PalletOne, Inc. (PalletOne) | Based in Bartow, Florida, PalletOne is a leading manufacturer of new pallets in the U.S., with 17 pallet manufacturing facilities in the southern and eastern regions of the country. The company also supplies other specialized industrial packaging, including custom bins and crates, and its Sunbelt Forest Products (Sunbelt) subsidiary operates five pressure-treating facilities in the Southeastern U.S. PalletOne and its affiliates had 2019 and 2020 sales of $525 million and $698 million, respectively.
​ | November 10, 2020 | $27,274 cash paid for 100% asset purchase and estimated contingent consideration | $ | 17,894 | $ | 9,380 | Construction
Atlantic Prefab, Inc.; Exterior Designs, LLC; and Patriot Building Systems, LLC | Based in Wilton, New Hampshire, Atlantic Prefab produces prefabricated steel wall panels and light gauge metal trusses. The company’s steel component and prefinished wall panel lines are new, value-added product additions for UFP Construction that help shorten project timelines. Exterior Designs is a leading installer of siding and exterior cladding such as fiber cement, ACM (aluminum composite material) panels, phenolic panels, and EIFS (exterior insulation and finish systems). The company is based in Londonderry, New Hampshire, and serves commercial and multi-family clients throughout the Northeast. Also based in Londonderry, Patriot Building Systems provides commercial and multi-family framing services in the Northeast and will focus on markets not currently served by companies of UFP Industries. The companies had combined annual sales of approximately $28 million.
​ | October 1, 2020 | $7,936 cash paid for 100% asset purchase and estimated contingent consideration | $ | 7,222 | $ | 714 | Retail
Fire Retardant Chemical Technologies, LLC (FRCT) | Founded in 2014 and based in Matthews, North Carolina, FRCT’s business includes a research and development laboratory specializing in developing and testing a wide range of high-performance chemicals, including fire retardants and water repellants. The company had annual sales of approximately $6.4 million.
​ | September 30, 2020 | $4,465 cash paid for 50% stock purchase and estimated contingent consideration | $ | 4,607 | $ | (142) | Other
Enwrap Logistic & Packaging S.r.l. (Enwrap) | Enwrap is a newly formed company dedicated to the logistics and packaging business of its predecessor, Job Service S.p.A. Headquartered in Milan, Italy, Enwrap provides high-value, mixed material industrial packaging and logistics services through eight locations in Italy. These locations generated annual sales of approximately $14 million.
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Company | Acquisition | ​ | Intangible | Tangible | Operating
Name | Date | Purchase Price | Assets | Assets | Segment
​ | July 14, 2020 | $19,136 cash paid for 100% asset purchase and estimated contingent consideration | $ | 13,098 | $ | 6,038 | Industrial
T&R Lumber Company ("T&R") | A manufacturer and distributor of a range of products used primarily by nurseries, including plastic growing containers, pots and trays; wooden stakes; trellises; tree boxes; shipping racks; and other nursery supplies based in Rancho Cucamonga, California. T&R had annual sales of approximately $31 million. The acquisition of T&R will allow us to leverage their expertise using our national manufacturing capacity to grow our agricultural product offerings and customer base across the country.

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