US-based Universal Forest Products, through its subsidiary, has completed the acquisition of all operating assets of packaging design and manufacturing firm Pak-Rite.
The transaction is expected to expand the company’s presence in custom packaging solutions.
Universal Forest Products CEO Matthew J Missad said: “Pak-Rite aligns with our strategic objective to become the industry’s foremost packaging solutions provider.
“It has earned a reputation for extraordinary products and services, and we are excited to add them to our growing portfolio of packaging products.
“We’re very fortunate to add the dedicated people of Pak-Rite who have been instrumental in creating a successful company and who are motivated to grow their careers and the Pak-Rite products with Universal.”
Pak-Rite former president Kirk Blaha will also serve as the company’s operations general manager while founder and former CEO Rick Blaha has offered consulting services through the transition period.
Kirk said: “We are excited for this new chapter of our business after more than 20 years of success.
“With the strength of Universal, we will be able to grow our customer base, products and design services, and offer more opportunity to our people. It is a winning situation all the way around, and we look forward to being part of the growing Universal family of companies.”
Established in 1996, Pak-Rite offers an assortment of packaging solutions for manufacturers across medical, aerospace and automation equipment industries.
The company operates its business from Milwaukee, Wisconsin facility, and employs nearly 60 people.