UFP Industries, Inc. (NASDAQ: UFPI) disclosed that its business unit Handprint has inked an acquisition agreement to buy Walnut Hollow Farm, Inc. The purchase agreement is scheduled to execute by the end of April 2021.
Walnut Hollow has gained recognition as the producer of a wide range of complexly completed wood surfaces used in hobby, craft, and wood processing projects, as well as in taxidermy.
UFP Industries, Inc. (NASDAQ: UFPI) shares were traded down 2.05% during the trading session of Monday. UFP Industries, Inc. (NASDAQ: UFPI) share price went from a low point around $32.54 to briefly over $73.44 in the past 52 weeks, though shares have since pulled back to $71.79. UFP Industries' market cap has stayed high, reaching $4.24 billion at the time of writing.
MD of Handprint commented that the acquisition of Walnut Hollow Farm will offer a unique mix of ready-to-make wood products and wood tools that clients love for their superior quality. Walnut Hollow will leave a positive influence on the lives of its clients.
UFPI is striving to extending the firm’s client relationships and sales in new retail outlets as well as expanding collaborations for its whole line of home interior and craft products.