UFP Industries Expands Global Footprints, Marks Entry Into India

SEATTLE (Scrap Monster): An affiliate of UFP Industries announced that it has acquired controlling equity stake in an India-based leading industrial packaging producer.

The acquisition of 70% equity in Bangalore-headquartered Ficus Pax Private Limited by UFP Global Holdings Ltd. for approximately $13.5 million USD marks UFP’s entry to the country. Further to the closing of the deal, the consolidated company will be led by Mr. Sandeep Wadhwa, chairman and managing director of Wadpack, in which Ficus Pax owns a majority stake.

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Ficus Pax Private Limited operates a total of ten facilities located in major industrial markets spread across southern region of the country, mainly manufacturing packaging products such as mixed-material cases, plywood boxes and wooden pallets. /The company had reported sales of around $39 million USD over the trailing 12-month period through August 2021, said the company press release.

Dick McBride, executive vice president of international operations, UFP noted that the addition of Ficus Pax gives UFP a solid foundation to grow its industrial packaging presence in India. Meantime, Mr.Wadhwa said that the investment and support by UFP will allow Ficus Pax and Wadpack to expand their sales outreach, boost capacity and productivity.