Saint-Damase, Québec pallet manufacturer, Damabois secured their acquisition of Fort Edward, New York’s Pallets Inc. The American company is the country’s oldest family-operated pallet manufacturer. The sale was closed in February of this year and included 12.1 acres of Pallets Inc. manufacturing facility in New York along with the company’s president Clint Binley and his staff of 35.
Pallets Inc. has been owned and operated by New York’s Binley family since 1942 and was controlled by the founder’s grandson. The manufacturer did not have a sole heir to the business and thus the family chose to sell to Damabois. The Saint-Damase producer of lumber and pallet products is set to expand the New York facility and upgrade its manufacturing capabilities and capacity as well as hire new staff. Damabois chose to retain all 35 of Pallet Inc.’s current staff along with the company’s president for a certain duration to ensure a seamless business transition and receive information and insight into the United States lumber and pallet market.
Damabois’ Lumber Stability to Benefit Pallets Inc.
“They’ve already expanded some machinery in the facility already,” Binley said of Damabois, claiming that Pallets Inc had been speaking with the new Damabois owners for about a year before the final purchase. “Given my age and the current business climate, this was the right time to sell, and Damabois has a lot to offer in this market given its size and growth position,” he stated.
Damabois is also a family-owned company that has managed their facilities in Québec, New York, and Maritime provinces since 1986. This new purchase offers the company an additional pallet facility in America which makes it their 11th overall. Although the purchase is momentous for both businesses involved, it seems that little will change, and Pallets Inc. will likely keep its name as well. Binley explained “For the most part, all else remains the same. Customers and suppliers have been notified, and the news about the sale has been well received.”
Pallets Inc. is eager to expand their reach into lumber from the eastern Canadian market, while Damabois is looking forward to accessing the Northern United States market. Damabois’ production plants can supply Pallets Inc. with high-quality timber and sawmill from both public and private Canadian forests. Binley explained, “The sale will only positively impact customers because Damabois has greater price stability in lumber and pricing and offers more products than we did including presswood pallets and firewood logs.”