UFP Industries Acquires 50% Stake In Dempsey Wood Products
UFP Industries has announced that its affiliate, PalletOne, Inc., has acquired a 50% equity stake in South Carolina sawmill company, Dempsey Wood Products, LLC. The purchase agreement includes options for PalletOne to purchase the remaining 50% of Dempsey after three years.
Founded in 1988 by Ronald Dempsey, Dempsey Wood Products produces kiln-dried lumber, pallet lumber, and other industrial wood products from a single location in Orangeburg, South Carolina. Dempsey had 2021 sales of $68.9 million, and its management team, including Ronald Dempsey and his son, Parker, will continue in management roles.
The industrial lumber that Dempsey produces is a key product for pallet operations and has been in short supply as larger mills produce less of this type of lumber. PalletOne’s investment in Dempsey helps it secure and grow a critical long-term supply source. In 2021, five of Dempsey’s 10 largest customers were UFP affiliates, and nearly 40 other UFP locations could be served by Dempsey.
“Having supplied UFP companies for many years, we’re proud to join forces and contribute to their future growth plans,” comments Parker Dempsey. “Together we can expand our capacity and industrial offerings. This gives our company and our employees exciting new growth opportunities.”
Latest News
Jasper Lumber Project Nears Completion
Jasper Lumber Project Nears CompletionJasper Lumber Co. is nearing completion on the previously announced $135 million investment to modernize its sawmill in Walker County, Alabama. The multi-year upgrade, which began in 2020 and is expected to be completed in 2026,...
GP Taylorsville Provides Tornado Relief
GP Taylorsville Provides Tornado Relief Through their partnership with Convoy of Hope, a non-profit organization dedicated to providing disaster relief, Georgia-Pacific Taylorsville lumber and plywood mill employees handed out a variety of relief items to people who...
Sumitomo Forestry America Acquires Teal Jones Louisiana Mill
Sumitomo Forestry America Acquires Teal Jones Louisiana Mill In early April, Sumitomo Forestry Co., Ltd. announced that its Board of Directors has agreed to acquire 100% of the shares of Teal Jones Louisiana Holdings, LLC (TJLH) through its wholly owned subsidiary...
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.