Universal Forest Products has acquired a majority stake in integrated packaging products company Integra Packaging Proprietary.
The agreement forms part of Universal’s strategy to grow internationally in markets and with multinational customers it serves in the US.
Universal Forest Products CEO Matthew J. Missad said: "Integra provides a strong opportunity for our foray into new international markets.
"It has a track record of success and a commitment to providing solutions to its customers.
"It utilises creativity that we can expand to our existing markets and, most importantly, it has a talented, hard-working team of people who are driven to grow and prosper.
"Under the stewardship of Dick Gauthier, our vice-president of international development, we expect big things from partnering up with Integra."
Headquartered in Brisbane, Australia, Integra has two locations in Eastern Australia, where it manufactures wood specialty packaging, distributes packaging products and performs on-site packaging services.
The company has also agreed exclusive distribution agreements with global packaging enterprises for Australia. It expects to generate approximately $12m in sales this year.
Integra managing director Roger Till added: "Being part of the Universal family of companies provides a great opportunity for Integra to expand in Australia and beyond.
"We are eager to help Universal achieve its international growth goals and to be part of its success."
Image: Integra manufactures wood packaging. Photo: courtesy of Iamnee / freedigitalphotos.net.