UFP Packaging, a division of UFP Industries (NASDAQ: UFPI), completed acquisitions of John Rock Inc. and Berry Pallets Inc., expanding its pallet manufacturing network into the Northeast and Upper Midwest regions.

The company acquired operating assets of three John Rock locations in Pennsylvania and Virginia, adding approximately $82 million in annual revenue and nearly 250 employees. John Rock manufactures new and recycled pallets, including stringer, combo and heat-treated varieties.

UFP Packaging also acquired Berry Pallets, based in Waseca, Minnesota, which contributes approximately $23 million in annual revenue and 75 employees. Berry Pallets designs and manufactures new and recycled pallets from its Minnesota facility.

Combined, the acquisitions add more than $105 million in annual revenue and approximately 375 employees to UFP Packaging's PalletOne network, according to the company's press release.

"These acquisitions are a direct reflection of our strategy — building a network that gives national customers the consistency, reliability, and reach they need, no matter where they operate," said Scott Worthington, President of UFP Packaging.

The transactions advance UFP Industries' capital allocation strategy, which focuses on investments in core, higher-margin businesses and expansion of manufacturing capacity in markets serving national customers.

UFP Packaging describes itself as a leading North American provider of industrial packaging solutions and the largest producer of wooden pallets and crates in the United States. The company is headquartered in Grand Rapids, Michigan, and operates as a subsidiary of UFP Industries Inc.