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Universal Forest to Acquire Idaho Western to Boost Growth
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Forest products company Universal Forest Products, Inc. (UFPI - Free Report) announced the second acquisition deal in a week to buy Idaho Western, Inc. Financial terms of the transaction have not been disclosed.
The Nampa, ID-based Idaho Western, Inc. is a well-known distributor of products, including lumber, plywood, siding and doors, etc. It serves a vast clientele in the building materials, manufactured housing and recreational vehicle industries.
Per the terms of the transaction, Idaho Western, Inc. will be acquired by one of the subsidiaries of Universal Forest Products. The company anticipates completing the purchase of Idaho Western’s outstanding shares, worth $11.5 million, by Jul 1, 2016. The acquired assets will be consolidated with Universal Forest Products’ Caldwell, Idaho operation. The latter is primarily engaged in supplying lumber products to the manufactured housing and recreational vehicle industries.
We believe Universal Forest Products’ constant endeavor to expand its business through inorganic means will prove beneficial, going forward. The acquired assets of Idaho Western, with annual sales of roughly $21 million, will strengthen the company’s position in the manufactured housing and retail markets. Also, the news seems to be the primary reason behind the 0.5% hike in Universal Forest Products’ share price at the end of the trading session on Jun 21.
Earlier in June, the company had signed a deal to acquire certain assets of Robbins Manufacturing Co. The acquired assets of Robbins Manufacturing will strengthen the company’s position in the treated wood products market in the United States. In 2015, the company had acquired assets of Rapid Wood Mfg. and Integra Packaging Proprietary, to expand its lumber products market and wood specialty packaging business, respectively.
With a market capitalization of $1.8 billion, Universal Forest Products currently carries a Zacks Rank #2 (Buy). Other similarly-ranked stocks in the industry include Louisiana-Pacific Corp. (LPX - Free Report) , Armstrong Flooring, Inc. and Boise Cascade Company (BCC - Free Report) .
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Universal Forest to Acquire Idaho Western to Boost Growth
Forest products company Universal Forest Products, Inc. (UFPI - Free Report) announced the second acquisition deal in a week to buy Idaho Western, Inc. Financial terms of the transaction have not been disclosed.
The Nampa, ID-based Idaho Western, Inc. is a well-known distributor of products, including lumber, plywood, siding and doors, etc. It serves a vast clientele in the building materials, manufactured housing and recreational vehicle industries.
Per the terms of the transaction, Idaho Western, Inc. will be acquired by one of the subsidiaries of Universal Forest Products. The company anticipates completing the purchase of Idaho Western’s outstanding shares, worth $11.5 million, by Jul 1, 2016. The acquired assets will be consolidated with Universal Forest Products’ Caldwell, Idaho operation. The latter is primarily engaged in supplying lumber products to the manufactured housing and recreational vehicle industries.
We believe Universal Forest Products’ constant endeavor to expand its business through inorganic means will prove beneficial, going forward. The acquired assets of Idaho Western, with annual sales of roughly $21 million, will strengthen the company’s position in the manufactured housing and retail markets. Also, the news seems to be the primary reason behind the 0.5% hike in Universal Forest Products’ share price at the end of the trading session on Jun 21.
UNIVL FST PRODS Price
UNIVL FST PRODS Price | UNIVL FST PRODS Quote
Earlier in June, the company had signed a deal to acquire certain assets of Robbins Manufacturing Co. The acquired assets of Robbins Manufacturing will strengthen the company’s position in the treated wood products market in the United States. In 2015, the company had acquired assets of Rapid Wood Mfg. and Integra Packaging Proprietary, to expand its lumber products market and wood specialty packaging business, respectively.
With a market capitalization of $1.8 billion, Universal Forest Products currently carries a Zacks Rank #2 (Buy). Other similarly-ranked stocks in the industry include Louisiana-Pacific Corp. (LPX - Free Report) , Armstrong Flooring, Inc. and Boise Cascade Company (BCC - Free Report) .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>