Universal President and COO Michael B. Glenn said, "DecKorators(TM) and eon(R) are great complements to the products Universal offers to help consumers create the outdoor environments of their dreams."
“DecKorators(TM) and eon(R) are great complements to the products Universal offers to help consumers create the outdoor environments of their dreams.”
DecKorators(TM)
Universal announced that a wholly owned subsidiary has acquired the assets of DecKorators(TM), a Missouri-based importer and marketer of decorative balusters and accessories for residential decks and porches. DecKorators' 2005 sales are estimated at $11 million. The acquisition was made by Universal Consumer Products, Inc., a division launched in October to grow Universal's business in the consumer products and do-it-yourself retail markets.
DecKorators(TM) designs, markets, and distributes aluminum balusters of various designs; scenic tempered safety glass balusters; connecting products; and accessories like caps and finials for deck posts. The company's products are sold through 2,500 independent dealers and big-box retailers throughout the United States, Canada, the U.K., and Ireland.
Universal CEO William G. Currie noted that the acquisition is in-line with Universal's five-year growth plan. "One of our acquisition strategies is to target companies with strong track records and strong and respected leadership. We found both - and more - in DecKorators," Currie said. "DecKorators is a respected name in balusters and accessories for decks and porches because they have beautiful, well-made products. It's a respected company because it has sound strategies and its people execute well. It's a great fit for Universal."
Glenn noted that with the acquisition of DecKorators(TM) and the addition of eon(R), Universal enhances its vast offerings in the decking and railing market. In addition to being the largest manufacturer of pressure-treated wood decking products in the country, Universal manufactures and distributes a line of premium wood-composite deck and railing products called Latitudes(TM). Universal also offers other outdoor living products such as Maine Ornamental post caps.
DecKorators(TM) is based in Crestwood, MO and has an additional location in St. Louis, MO. The company's key management includes President Kelly Jones and Vice President Doc Meston. Jones will continue to lead the business as General Manager of Operations; Meston will become Operations Manager. The other employees are expected to remain with the company.
"We feel fortunate to become a part of the Universal family and believe we have a great product that will enhance the opportunities for Universal. We also believe this is a great opportunity for the employees of DecKorators," Jones said. "By joining the Universal team, we can expand our product offerings and grow our business at a much faster rate. We are excited about this next phase of our growth and about becoming a vital part of Universal Consumer Products."
eon(R)
Universal also announced that its Universal Consumer Products division has entered into an exclusive agreement with CPI Plastics Group Ltd., to distribute that company's eon(R) decking, railing, and fencing products.
The popular eon(R) decking system is a premium, 100% plastic product that includes deck boards, cladding, a wing clip fastening system, and a fast and easy-to-install railing system. It comes in six colors and provides the beauty and feel of natural wood without splitting, fading, cracking and warping. The eon(R) fencing system is to be launched in the fourth quarter of this year. It will include six-foot fence panels that will come in two colors, redwood and cedar, and two styles, a complete privacy panel and a panel with a lattice top. The panels will come packaged and ready-to-assemble. 2005 sales of eon(R) products are estimated at $12 million.
"eon is a superior product with a track record of success and it's manufactured by a company committed to quality, to customer service, and to integrity. All of those things make it an attractive addition to the Universal portfolio and to our strategy to provide a variety of products and accessories for outdoor living environments," Currie said.
"We are excited by this opportunity to partner with Universal Forest Products and to use the power of their national presence, distribution systems, and marketing to grow eon products," said Ronald Mitchell, president, CPI Plastics Group Ltd. "It's a great opportunity for us to introduce eon to additional markets across the United States and for Universal to add a beautiful product to the already-strong group of outdoor products it sells to retailers nationwide. It's also a great opportunity to partner with a dynamic and growing company that's built a reputation for quality through its strong relationships, integrity, and hard-driving work ethic."
The agreement with CPI Plastics Group calls for Universal to have exclusive distribution of eon(R) throughout the United States. Universal will sell eon(R) to big-box retailers, as well as to other independent retailers and building customers nationwide.
For both product lines, Universal will utilize its existing national distribution systems and may add to those systems to create additional opportunity for these and all Universal consumer-related products.
Based in Grand Rapids, MI, Universal Forest Products markets, manufactures and engineers wood and wood-alternative products for D-I-Y retail home centers; structural lumber products for the manufactured housing industry; engineered wood components for the site-built construction market; and specialty wood packaging for various industries. The company also provides framing services for site-built construction customers. Universal Forest Products has approximately 9,000 employees and 100 facilities throughout North America. The company had 2004 sales of $2.45 billion. Among other recognitions, Universal:
-- Has been on Forbes magazine's prestigious Platinum 400, an annual listing of "America's best big companies," for six of the last seven years.
-- Is included on the list of "50 Best U.S. Manufacturers" as compiled by IndustryWeek magazine.
-- Was named one of 60 "Cool Places to Work" in Michigan in a first-of-its-kind competition jointly held by Crain's Detroit Business and the Grand Rapids Business Journal.
-- This year jumped 81 places on the annual "Fortune 1000" listing of America's largest corporations to land at number 651.
For information about Universal Forest Products, go to www.ufpi.com , or call 888-Buy-UFPI.
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