UFP Packaging, a subsidiary of US-based holding company UFP Industries, has purchased corrugated packaging manufacturer Titan Corrugated and its affiliate All Boxed Up.
The financial terms of the transaction have not been disclosed. Founded in 2003, Titan specialises in manufacturing boxes for moving and storage, industrial jumbo boxes and corrugated containers for shipping, as well as point-of-purchase displays.
The company operates an automated facility in Flower Mound, Texas. Following the acquisition, Titan founder Jon Reneau and his leadership team will continue with the company.
Reneau said: “I am proud of the team at Titan and am excited by the opportunities that will come to us as part of the UFP family of companies.
“We look forward to helping drive UFP’s mission to become the leading global packaging solutions provider.”
All Boxed Up distributes corrugated boxes in common sizes manufactured by Titan across the US. For the 12 months to October this year, Titan and All Boxed Up generated nearly $46.5m in combined sales.
UFP Packaging vice-president Chuck Krawczak said: “We are thrilled that the Titan companies have joined UFP Packaging as our cornerstone corrugated conversion facility.
“Jon and his team built a model that we plan to replicate in target geographic markets where we can utilise both customer and distribution synergies.
“Titan’s operations are highly automated and overseen by talented team members dedicated to serving the customer.
“We can learn from their use of automation and robotics, and Titan will benefit from our support staff, capital and extensive customer base.”
In December last year, UFP Packaging acquired Advantage Label & Packaging in an effort to expand its industrial packaging product portfolio.
Advantage Label provides blank and customised labels, printers, label applicators and other supplies for the beverage, food production, food processing and manufacturing industries among others.