Headquartered in Castellón, Spain, Palets Suller is the market leader in machine-built wood pallets, serving the region's ceramic tile industry as well as other industries. Spain is one of the largest ceramic tile manufacturing export markets in the world. Founder and CEO Samuel Suller Oliver will retain a 20% stake in the company and continue as executive director, managing the day-to-day operations. He will be joined by UFP veteran Alex Kladt, who will work with the Palets Suller leadership team to scale the business and achieve operating synergies.

"Palets Suller provides a strong foundation to expand into Spain and grow our value-added packaging business in Europe," said Dick McBride, UFP Global's executive vice president. "Samuel and his experienced team have built an impressive and efficient business, and we look forward to learning from them and helping them expand into new markets. This is another step in our goal to be the preferred global packaging solutions provider."

"We are excited to join the UFP Industries family of companies and eager to pursue the new business opportunities this combination will bring to us," said Samuel Suller Oliver. "We're pleased for our people, who will have new opportunities for growth and the rewards that come with being part of a large, successful multinational corporation. And we're pleased for our customers because we will be able to offer the same quality products and level of service they've grown to expect from us, while adding new products and support from the capabilities of other UFP companies."