UFP Industries (NASDAQ: UFPI) announced the acquisition of Berry Pallets Inc.'s operating assets and real estate for approximately $20 million. The transaction is expected to close around May 18, 2026.

Berry Pallets operates a pallet manufacturing facility in Waseca, Minnesota. The acquisition adds approximately $23 million in annual sales and 75 employees to UFP Industries, according to a company press release.

The Berry Pallets facility will be integrated into UFP Packaging's existing pallet manufacturing network. UFP Packaging is a division of UFP Industries focused on wood-based industrial packaging.

"This acquisition is fundamentally about strengthening our core business and adding capacity where we see long-term opportunity," said Will Schwartz, CEO of UFP Industries. "Berry Pallets has built a well-run operation with a talented team, loyal customers and a track record of consistent performance."

The acquisition expands UFP Packaging's manufacturing footprint in the upper Midwest region. Scott Worthington, President of UFP Packaging, said the transaction represents a strategic fit for the division.

UFP Industries manufactures wood and wood-alternative products for retail, industrial and construction markets. The company is based in Grand Rapids, Michigan.