UFP Industries’ Handprint unit acquiring Walnut Hollow
agreement to purchase the operating assets of Walnut Hollow Farm, Inc.
Founded by the Ladd family in 1972 and based in Dodgeville, Wis., Walnut Hollow produces a variety of finished wood surfaces used in hobby, craft and woodworking projects, as well as in taxidermy.
The company also sells its own line of wood-burning tools and accessories.
Walnut Hollow had sales of approximately $11 million in 2020. President Sandra Ladd Bartelt and CFO Chris Ladd will leave the company and continue to serve as consultants for a specified time to ensure the smooth transition of leadership responsibilities, UFP Industries said.
The financial terms of the deal were not disclosed. The acquisition is expected to to be completed by the end of April 2021.
“Walnut Hollow provides us a new and unique mix of ready-to-make wood products and wood tools that customers love for their superior quality,” said Jennifer Meyer, managing director of Handprint. “The company is the leader in bark-edge basswood and basswood finishing techniques, with strong relationships among hobby and craft retailers. We look forward to expanding the company’s customer relationships and sales in new retail channels as well as developing synergies for our entire line of home décor and craft products.”
“Walnut Hollow is not only special to us because the company was founded by our parents, but because it has allowed us to have a positive impact on the lives of our employees and those in our community,” said Sandra Ladd Bartelt and Chris Ladd. “With UFP, we feel like we have found the best partner for continuing our family’s legacy. We are happy to know our company and employees will have great opportunities ahead as part of the UFP family.”
Based in Grand Rapids, Mich., UFP Industries and its subsidiaries manufacture, distribute, and sell a wide variety of products used in residential and commercial construction, packaging and other industrial applications globally.