One of Australia’s largest structural timber producers is becoming a major player in the pallet business after Hyne Group acquired Express Pallets and Crates, its second acquisition in less than a month.
Now, Hyne Group is working with parent company James Jones & Sons, a global player in the pallet market, to provide skills and input to help Express serve South East Queensland from its Narangba base.
The latest purchase follows the acquisition of Melbourne-based Rodpak and is part of a new strategy that Hyne Timber’s CEO Jim Bindon last month will not add new capacity to the market but instead work with long-term Hyne customers and partners to either leave the market or manage succession.
The deal, subject to meeting compliance requirements, will see Geoff Walton, who has operated Express for 35 years, retain ownership of the Pro-Pine sawmill, an important supplier to the Express business.
For Mr Bindon, the latest acquisition adds to the company’s growing pallet portfolio – with the business focused on acquiring “quality businesses with their own legacies and strong market conditions.”
“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 its many clients,” Mr Bindon said, who said General Manager Tim Hoatson will lead the business post-acquisition.
“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.”
“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.”
According to Mr Walton, the sale of a fellow long-standing Queensland family business – which recently celebrated its 140th anniversary – was a pleasing outcome after 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. I am confident the business will continue to succeed.”
Hyne has been a long-term timber supplier to the pallet industry, which remains a core focus for the sawmilling operations, “continuing supply to these long-term Hyne pallet customers remains essential to the broader Group strategy,” Mr Bindon said last month.
“This acquisition has no impact on our high-quality, structural framing product range for the construction sector, which remains the main focus of the Hyne Timber business.”
- To learn more about Hyne – one of Australia’s most storied timber companies, visit Wood Central’s special feature on 140 years of Hyne Timber, published by Jim Bowden last year – a friend to multiple generations of the Hyne family.
