DODGEVILLE, WI – April 19, 2021 – Walnut Hollow Farm, Inc. completes its previously announced sale of its operating assets to Handprint, the growing home and décor business unit of UFP Retail Solutions, a wholly-owned subsidiary of UFP Industries, Inc. (Nasdaq: UFPI).
Founded by David Ladd in 1972 and based in Dodgeville, Wisconsin, Walnut Hollow Farm produces a variety of finely finished wood surfaces used in hobby, craft and woodworking projects, as well as in taxidermy. The company also sells its own line of woodburning tools and accessories. Walnut Hollow Farm had sales of approximately $11 million in 2020.
President Sandra Ladd Bartelt and CFO Chris Ladd will remain with the company following its acquisition by UFPI, continuing to serve as consultants to UFPI to ensure a smooth transition of leadership responsibilities.
Walnut Hollow Farm has been providing wood products and wood-burning tools and accessories to the craft industry for almost 50 years. The company provides the broadest range of basswood products, both plain and bark-edged products, the preferred wood for crafters. Basswood presents manufacturing challenges and Walnut Hollow Farm has developed custom-designed machinery and more efficient manufacturing processes to enable the company to produce a quality product year after year. This has enabled the company to maintain its leading position in this wood category. Walnut Hollow Farm has developed and maintains the leading position in wood-burning tools and accessories in the craft market. The company has accomplished this by continuing to develop tools and accessories that make it easier and more affordable for crafters of all capabilities to work with its wood products.
UFPI, pursuant to its acquisition strategy, was seeking to enter the craft market with a company that had a well-known and respected brand and carried a solid reputation for customer service. Walnut Hollow Farm met those criteria. UFPI intends to use its marketing strengths to continue to maintain and grow Walnut Hollow Farm’s position in the craft market and provide additional support to enable the company to continue to build its position in the attractive DIY market, a market where UFPI is already well-entrenched.
UFP Industries, Inc.
UFP Industries, a $5+ billion in revenue, publicly-held business, is a holding company whose operating subsidiaries – UFP Industrial, UFP Construction and UFP Retail Solutions – manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide. Founded in 1955, the company is headquartered in Grand Rapids, Michigan, with affiliates in North America, Europe, Asia and Australia. For more about UFP Industries, go to www.ufpi.com.
About Fairmount Partners
Fairmount Partners (www.fairmountpartners.com) is an independent merger and acquisition advisory firm focused on emerging growth and middle-market companies. Fairmount helps its clients complete mergers and acquisitions; raise funds for growth, acquisitions and liquidity; and design and improve their corporate development strategies. Fairmount’s clients include successful entrepreneurs, private equity-sponsored enterprises, and global public companies. Since 2003, Fairmount has completed more than 245 transactions, representing over $12 billion in aggregate value, in 20 countries throughout North and South America, Europe, Asia and Australia. For further information, please contact Jonathan Smith at Jonathan.smith@fairmountpartners.com.
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