Universal Forest Products, Inc. signed a definitive agreement to purchase idX Corp., an international provider of store fixtures, retail displays and customized merchandising products in a deal worth $68 million.
Universal Forest Products will acquire all outstanding shares of stock of the holding company, idX Holdings, Inc. The move opens new doors to Universal Forest for growth in adjacent markets and with new products, and offers idX access to enhanced capacity and to new customers and markets. The transaction is expected to close by the end of the third quarter.
Universal Forest Products will also advance $94.5 million to idX to resolve all outstanding debt. Last year Universal Forest Producst acquired a manufactured home builder, Rapid Wood Mfg., and opened a wood components plant in Utah.