Tuesday, April 30, 2024
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The Hyne Group further expands with the acquisition of Express Pallets and Crates (Express), based at Narangba near Brisbane. Through this fresh move of the company is further expanding its operating division.
Express has been in operation for some 35 years, under the ownership and leadership of Geoff Walton.
Geoff will retain ownership of the Pro-Pine sawmilling operation, which will remain an important supplier of timber to the Express business. The acquisition by Hyne only involves the assets and trading business of Express Pallets & Crates.
Express has a very broad and extensive client base, with significant long-term relationships across a range of market segments. This is very compatible with the long-term partnership approach that Hyne operates under, and together with the skills and input from Hyne’s major Scottish shareholder, James Jones &Sons Ltd, Express Pallets & Crates have a great opportunity to continue to be a major supplier of pallets and crates to the QLD market.
Hyne Group CEO, Jim Bindon said it is pleasing to be able to continue to expand the Pallet Division by acquiring excellent quality businesses with their own legacies and strong market positions.
“Being part of the Hyne Group and the broader James Jones & Sons global business, only enhances Express Pallets capability and credentials as a business partner to their many clients.
“As was the case with the recent acquisition of Rodpak, it will be business as usual for the Express brand, staff, suppliers and customers, but with the strong backing and support of the Hyne Group.
“The existing General manager, Tim Hoatson, will continue to lead the business, and together with the rest of the management team and indeed all the Express staff, we look forward to all their future contributions, and welcome them into the Hyne Group.” Mr Bindon concluded.
Geoff Walton said the Sale of his Company to a fellow long-standing QLD family business, was a pleasing outcome after many years of growing and expanding the business:
“With the national and global position that the broader Hyne Group now has, this presents really good opportunities for all my team members, customers and suppliers, and I am confident the business will continue to succeed.”
The acquisition of Express Pallets & Crates will finalise on July 1 2024, subject to all Completion Precedents being met.
Hyne Timber was established in 1882 and today operates a range of large-scale softwood sawmills and engineered wood products manufacturing assets, including Australia’s first Cross Laminated Timber (CLT) processing facility.
In 2022, a partnership with UK based timber company James Jones and Sons Ltd (JJSL) was announced, with JJSL becoming the majority owner of the Hyne Group. Following this in the year 2023, the Hyne Group announced a partnership with the Rocky Point landscaping products business in Yatala, Queensland, in which Hyne Group is now the majority owner. In 2024, Hyne Pallets acquired the Rodpak Pallet business based in Melbourne as the first direct entry into the Pallet manufacturing industry.
Read more news on The Hyne Group
Tags: acquisition, Express Pallets and Crates, Hyne Group, wood and panel, woodworking, woodworking and manufacturing, woodworking and processing, woodworking industry, woodworking UK
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