PalletOne Inc.: America’s Leading Pallet Manufacturer
May 12, 2025
PalletOne Inc. stands as the nation’s largest single-source, asset-based pallet manufacturer, with a significant footprint across the United States. With over 40 years of industry experience, the company has established itself as a leader in pallet manufacturing and wood packaging solutions. Following its acquisition by UFP Industries in 2020, PalletOne has expanded its operations to become the first coast-to-coast pallet supplier in the United States, demonstrating remarkable growth and innovation in the pallet industry. PalletOne Inc – Is This a SCAM Company?
Company History and Evolution
PalletOne was founded on October 19, 2001, when 12 pallet manufacturing facilities united to create what would become America’s largest new pallet maker. In its first decade, the company expanded from 12 facilities to 17, showing remarkable resilience through challenging periods including 9/11 and the Great Recession. This growth trajectory included the addition of Sunbelt Forest Products, which specializes in pressure-treating lumber and fences.
A pivotal moment in PalletOne’s history came in December 2020, when UFP Industries acquired the company for approximately $232 million, integrating it into the UFP Packaging portfolio. The acquisition price was based on a cash-free, debt-free balance sheet and included a deal to pay $21 million for PalletOne’s recent expenses and investments. At the time of acquisition, PalletOne employed more than 1,500 people across 22 locations.
Since joining UFP Packaging, PalletOne has undergone significant expansion. By 2023, the company had achieved a notable milestone by becoming the first fully owned pallet supplier operating coast-to-coast in the United States. Currently, PalletOne operates over 90 company-owned wood packaging and pallet manufacturing operations across the country, solidifying its position as an industry leader.
Scale and Market Position
PalletOne maintains a dominant position in the American pallet industry, representing unparalleled scale and reach in the market. As the largest new pallet manufacturer in the United States, the company has established an impressive operational footprint that spans the nation.
Manufacturing Capacity and Geographic Presence
The company’s manufacturing capabilities are substantial, with processing capacity exceeding 1.3 billion board feet of industrial-grade lumber annually. PalletOne’s operations include over 140 automated pallet assembly machines, providing an estimated capacity eight times greater than its competitors. This automation-focused approach has positioned the company as an industry leader in robotic pallet manufacturing processes.
PalletOne’s geographic footprint is extensive, with facilities across multiple states including Florida, Texas, Georgia, North Carolina, Maine, Wisconsin, Alabama, Virginia, and Indiana. The company maintains its headquarters in Bartow, Florida, while operating manufacturing sites throughout the eastern United States. In Texas alone, PalletOne has three manufacturing sites in Port Arthur, Clarksville, and New Boston, with a combined production capacity of 5.2 million pallets annually.
Workforce and Performance Metrics
Recent reports indicate that PalletOne employs approximately 344 people, having grown its workforce by 5% over the past year. The company has demonstrated strong market performance, with Q4 2024 showing a 13% increase in organic unit sales due to market share gains. For the full year 2024, PalletOne achieved a 9% increase in organic unit sales, also attributable to market share gains. However, Q1 2025 saw a 1% decline in organic unit sales due to softer market demand.
Products and Services Portfolio
PalletOne offers a comprehensive range of products and specialized services to meet diverse customer needs in the pallet and packaging industry.
Pallet Manufacturing
As America’s largest new pallet manufacturer, PalletOne produces a wide variety of lumber species, dimensions, and grades to meet specific customer requirements. The company builds pallets to customer specifications following industry-standard guidelines set forth by the National Wooden Pallet and Container Association. All PalletOne locations are audited and certified annually by third-party inspectors to provide heat-treated pallets for export in accordance with the International Plant Protection Convention’s ISPM 15 requirements.
The product range includes specialized pallets such as:
Chemical pallets (as a certified supplier)
Block pallets and stringer pallets
Heat-treated pallets for export
CP pallets that comply with specifications from the Plastics Europe Council
GMA pallets meeting Consumer Brand Association standards
48″ x 45″ automotive wood stringer pallets
Wooden skids for heavy products or machinery
Specialized Services
Beyond manufacturing, PalletOne offers several value-added services:
Pallet Concierge™: Launched in 2023, this pioneering management service provides customers with a specialized pallet solutions expert dedicated to simplifying the procurement process and tackling supply concerns on a national scale. This white-glove service includes enterprise pallet resource planning, national supply chain management, shipping logistics and regulatory updates, warehouse management solutions, market cost and supply trends monitoring, emergency fulfillment, design services, and concierge-level service.
Unit Load Consulting: PalletOne leads the industry in education and promotion of unit load design, a concept focused on reducing packaging waste by minimizing packaging weight and volume while reducing raw material usage.
Pallet Repair and Recycling: The company operates aggressive pallet recovery and recycling programs to divert fiber from the waste stream, supporting sustainability goals. These programs include picking up, repairing, and returning pallets in a timely manner to customer specifications.
Design and Testing: PalletOne offers customized services including wood packaging design, engineering, and testing to optimize pallet and crate capabilities.
Business Philosophy and Approach
PalletOne’s business philosophy centers on several key principles that guide its operations and strategic direction.
Continuous Improvement
The company maintains a strong focus on continuous improvement in its production and delivery processes, aiming to produce pallets at the lowest possible cost while meeting customer expectations. This approach has been particularly evident during challenging economic periods, where PalletOne has demonstrated creativity and commitment to improving production processes and finding innovative ways to collaborate.
Quality and Expertise
With over 40 years of experience in the pallet industry, PalletOne offers unmatched product quality and expertise. As stated by CEO Howe Wallace, “We set the standard in our industry in the markets we serve”. This commitment to quality is reflected in the company’s rigorous manufacturing standards and testing procedures.
Customer-Centric Solutions
PalletOne provides customized solutions tailored to each customer’s specific needs. The company’s total pallet management programs and services like Pallet Concierge™ demonstrate its customer-focused approach, prioritizing problem-solving and expert assistance. As stated by President Howe Wallace, “We find our customers like us even more when we’re right next door,” highlighting the company’s emphasis on local presence and customer relationships.
Adaptation and Resilience
Over its history, PalletOne has demonstrated remarkable resilience and adaptability in the face of challenges. From navigating the aftermath of 9/11 to weathering the Great Recession and implementing strategic equipment redeployment in 2023, the company has consistently shown its ability to adapt to changing market conditions and emerge stronger.
Leadership and Management
PalletOne’s success is guided by an experienced management team with deep industry knowledge.
Key Leadership Figures
Howe Q. Wallace has served as President of PalletOne since its inception in 2001. Before this role, he was Executive Vice President of Human Resources for IFCO Systems North America, Chief Human Resources Officer for PalEx, Inc., and Director of Human Resources for Ridge Pallets, Inc. A 30-year veteran of the pallet industry, Wallace has served on the Board of Directors of the National Wooden Pallet and Container Association and on Virginia Tech’s Center for Packaging and Unit Load Design. He holds a bachelor’s degree in Journalism from the University of Florida and a master’s degree from the College of Education at Michigan State University.
Casey A. Fletcher, CPA, CGMA has been PalletOne’s Chief Financial Officer since its foundation in 2001. Previously, he was Vice President of Finance for IFCO Systems North America and Chief Accounting Officer of PalEx, Inc. Fletcher began his career in the pallet industry in 1983 as Controller for Ridge Pallets, Inc. He serves on several boards, including the Florida Humanities Council and the Board of Governors of the Florida Institute of CPAs.
Other key executives include Matt B. Sheffield (Chief Operations Officer) and Donnie Isaacson (Vice President). The company’s management team is complemented by leadership from its parent organization, with Scott Worthington serving as UFP Packaging President.
Recent Developments and Expansion
PalletOne has undertaken several strategic initiatives to strengthen its market position and enhance its service capabilities.
Automated Manufacturing Expansion
In June 2024, PalletOne launched an automated pallet assembly machine redeployment program to optimize its manufacturing capacity. This initiative involves strategically relocating high-capacity automated pallet assembly machines to growth markets nationwide, including Adairsville, Georgia; Chandler, Arizona; and Houston, Texas. This redeployment aims to better serve high-volume customers in high-use regions and demonstrates the company’s commitment to flexibility and responsiveness in meeting customer demands.
Houston Metropolitan Area Expansion
PalletOne has strategically expanded its operations in the Houston metropolitan area to build on its experience serving high-volume chemical and energy customers in the region. This expansion included increasing capital investment in the area and opening a new high-capacity automated pallet assembly line at its Port Arthur location. The enhanced capacity enables the company to offer a wider range of pallet products and services, providing local customers with more options to meet their specific requirements. Benefits for local customers include improved efficiency through lower transit costs, shorter turn times, and enhanced flexibility.
Acquisitions and Integration
As part of UFP Industries, PalletOne continues to grow through strategic acquisitions. In January 2025, UFP Industries acquired C&L Wood Products, Inc., which had trailing 12-month sales through November 2024 of $24.8 million. C&L will operate as part of UFP Packaging’s PalletOne division, further expanding the company’s capabilities and market reach.
Financial Performance and Market Position
PalletOne’s financial performance reflects its strong market position and operational efficiency, though reported figures vary across sources.
Revenue and Financial Metrics
Multiple sources provide different revenue estimates for PalletOne:
ZoomInfo reports revenue of $378.7 million
RocketReach indicates $300 million in annual revenue
Growjo estimates $35 million with revenue per employee of $101,744
As part of UFP Packaging’s portfolio of companies, PalletOne contributes to the division’s overall revenue generation of over $1 billion annually. UFP Packaging is a wholly owned subsidiary of UFP Industries, Inc. (Nasdaq: UFPI), a publicly traded company.
Recent Performance Trends
Recent financial reports indicate mixed performance trends for PalletOne within the UFP Packaging segment:
In Q4 2024, PalletOne achieved a 13% increase in organic unit sales due to market share gains, outperforming other divisions within UFP Packaging that experienced declines. For the full year 2024, PalletOne’s organic unit sales increased by 9%, also attributable to market share gains. This growth occurred despite an overall decline in UFP Packaging’s net sales, which decreased by 11% compared to fiscal 2023 due to an 8% decrease in selling prices and a 5% decline in organic unit sales across the segment.
However, Q1 2025 saw a 1% decline in organic unit sales for PalletOne, reflecting softer demand in the market. This performance indicates the cyclical nature of the industry and highlights the importance of the company’s diversified approach and focus on market share growth.
Sustainability Initiatives
PalletOne demonstrates a strong commitment to environmental responsibility through various sustainability practices integrated into its business operations.
Sustainable Product Design
The company leads the industry in education and promotion of unit load design, a concept focused on reducing packaging waste. This process minimizes packaging weight and volume while reducing raw material usage, resulting in more environmentally friendly products. PalletOne encourages customers to engage with this approach by offering free pallet audits and training classes on systems-based design.
Responsible Sourcing
PalletOne purchases much of its raw material from replenished, managed forests, recognizing wood as a renewable resource. Many of the company’s suppliers are certified by the Sustainable Forestry Initiative® (SFI®) and/or the Forest Stewardship Council® (FSC®). All PalletOne plants are eligible for FSC and SFI chain-of-custody certification should a customer specify that as a product requirement.
Recycling and Recovery Programs
The company operates aggressive pallet recovery and recycling programs to divert fiber from the waste stream. Nearly all of PalletOne’s products and by-products follow a cradle-to-cradle vision of packaging, where products are collected and recycled to produce other useful products. Additionally, PalletOne operates an industrial recycling division dedicated to helping customers repurpose material generated from their waste stream.
According to company reports, 100% of PalletOne’s products are recyclable, and over 15% of total products sold in recent years were recycled or upcycled. The company manages its waste stream to upcycle all by-products including sawdust, wood chips, and mulch.
PalletOne Inc. stands as the nation’s largest single-source, asset-based pallet manufacturer, with a significant footprint across the United States. With over 40 years of industry experience, the company has established itself as a leader in pallet manufacturing and wood packaging solutions. Following its acquisition by UFP Industries in 2020, PalletOne has expanded its operations to become the first coast-to-coast pallet supplier in the United States, demonstrating remarkable growth and innovation in the pallet industry. PalletOne Inc – Is This a SCAM Company?
Company History and Evolution
PalletOne was founded on October 19, 2001, when 12 pallet manufacturing facilities united to create what would become America’s largest new pallet maker. In its first decade, the company expanded from 12 facilities to 17, showing remarkable resilience through challenging periods including 9/11 and the Great Recession. This growth trajectory included the addition of Sunbelt Forest Products, which specializes in pressure-treating lumber and fences.
A pivotal moment in PalletOne’s history came in December 2020, when UFP Industries acquired the company for approximately $232 million, integrating it into the UFP Packaging portfolio. The acquisition price was based on a cash-free, debt-free balance sheet and included a deal to pay $21 million for PalletOne’s recent expenses and investments. At the time of acquisition, PalletOne employed more than 1,500 people across 22 locations.
Since joining UFP Packaging, PalletOne has undergone significant expansion. By 2023, the company had achieved a notable milestone by becoming the first fully owned pallet supplier operating coast-to-coast in the United States. Currently, PalletOne operates over 90 company-owned wood packaging and pallet manufacturing operations across the country, solidifying its position as an industry leader.
Scale and Market Position
PalletOne maintains a dominant position in the American pallet industry, representing unparalleled scale and reach in the market. As the largest new pallet manufacturer in the United States, the company has established an impressive operational footprint that spans the nation.
Manufacturing Capacity and Geographic Presence
The company’s manufacturing capabilities are substantial, with processing capacity exceeding 1.3 billion board feet of industrial-grade lumber annually. PalletOne’s operations include over 140 automated pallet assembly machines, providing an estimated capacity eight times greater than its competitors. This automation-focused approach has positioned the company as an industry leader in robotic pallet manufacturing processes.
PalletOne’s geographic footprint is extensive, with facilities across multiple states including Florida, Texas, Georgia, North Carolina, Maine, Wisconsin, Alabama, Virginia, and Indiana. The company maintains its headquarters in Bartow, Florida, while operating manufacturing sites throughout the eastern United States. In Texas alone, PalletOne has three manufacturing sites in Port Arthur, Clarksville, and New Boston, with a combined production capacity of 5.2 million pallets annually.
Workforce and Performance Metrics
Recent reports indicate that PalletOne employs approximately 344 people, having grown its workforce by 5% over the past year. The company has demonstrated strong market performance, with Q4 2024 showing a 13% increase in organic unit sales due to market share gains. For the full year 2024, PalletOne achieved a 9% increase in organic unit sales, also attributable to market share gains. However, Q1 2025 saw a 1% decline in organic unit sales due to softer market demand.
Products and Services Portfolio
PalletOne offers a comprehensive range of products and specialized services to meet diverse customer needs in the pallet and packaging industry.
Pallet Manufacturing
As America’s largest new pallet manufacturer, PalletOne produces a wide variety of lumber species, dimensions, and grades to meet specific customer requirements. The company builds pallets to customer specifications following industry-standard guidelines set forth by the National Wooden Pallet and Container Association. All PalletOne locations are audited and certified annually by third-party inspectors to provide heat-treated pallets for export in accordance with the International Plant Protection Convention’s ISPM 15 requirements.
The product range includes specialized pallets such as:
Specialized Services
Beyond manufacturing, PalletOne offers several value-added services:
Pallet Concierge™: Launched in 2023, this pioneering management service provides customers with a specialized pallet solutions expert dedicated to simplifying the procurement process and tackling supply concerns on a national scale. This white-glove service includes enterprise pallet resource planning, national supply chain management, shipping logistics and regulatory updates, warehouse management solutions, market cost and supply trends monitoring, emergency fulfillment, design services, and concierge-level service.
Unit Load Consulting: PalletOne leads the industry in education and promotion of unit load design, a concept focused on reducing packaging waste by minimizing packaging weight and volume while reducing raw material usage.
Pallet Repair and Recycling: The company operates aggressive pallet recovery and recycling programs to divert fiber from the waste stream, supporting sustainability goals. These programs include picking up, repairing, and returning pallets in a timely manner to customer specifications.
Design and Testing: PalletOne offers customized services including wood packaging design, engineering, and testing to optimize pallet and crate capabilities.
Business Philosophy and Approach
PalletOne’s business philosophy centers on several key principles that guide its operations and strategic direction.
Continuous Improvement
The company maintains a strong focus on continuous improvement in its production and delivery processes, aiming to produce pallets at the lowest possible cost while meeting customer expectations. This approach has been particularly evident during challenging economic periods, where PalletOne has demonstrated creativity and commitment to improving production processes and finding innovative ways to collaborate.
Quality and Expertise
With over 40 years of experience in the pallet industry, PalletOne offers unmatched product quality and expertise. As stated by CEO Howe Wallace, “We set the standard in our industry in the markets we serve”. This commitment to quality is reflected in the company’s rigorous manufacturing standards and testing procedures.
Customer-Centric Solutions
PalletOne provides customized solutions tailored to each customer’s specific needs. The company’s total pallet management programs and services like Pallet Concierge™ demonstrate its customer-focused approach, prioritizing problem-solving and expert assistance. As stated by President Howe Wallace, “We find our customers like us even more when we’re right next door,” highlighting the company’s emphasis on local presence and customer relationships.
Adaptation and Resilience
Over its history, PalletOne has demonstrated remarkable resilience and adaptability in the face of challenges. From navigating the aftermath of 9/11 to weathering the Great Recession and implementing strategic equipment redeployment in 2023, the company has consistently shown its ability to adapt to changing market conditions and emerge stronger.
Leadership and Management
PalletOne’s success is guided by an experienced management team with deep industry knowledge.
Key Leadership Figures
Howe Q. Wallace has served as President of PalletOne since its inception in 2001. Before this role, he was Executive Vice President of Human Resources for IFCO Systems North America, Chief Human Resources Officer for PalEx, Inc., and Director of Human Resources for Ridge Pallets, Inc. A 30-year veteran of the pallet industry, Wallace has served on the Board of Directors of the National Wooden Pallet and Container Association and on Virginia Tech’s Center for Packaging and Unit Load Design. He holds a bachelor’s degree in Journalism from the University of Florida and a master’s degree from the College of Education at Michigan State University.
Casey A. Fletcher, CPA, CGMA has been PalletOne’s Chief Financial Officer since its foundation in 2001. Previously, he was Vice President of Finance for IFCO Systems North America and Chief Accounting Officer of PalEx, Inc. Fletcher began his career in the pallet industry in 1983 as Controller for Ridge Pallets, Inc. He serves on several boards, including the Florida Humanities Council and the Board of Governors of the Florida Institute of CPAs.
Other key executives include Matt B. Sheffield (Chief Operations Officer) and Donnie Isaacson (Vice President). The company’s management team is complemented by leadership from its parent organization, with Scott Worthington serving as UFP Packaging President.
Recent Developments and Expansion
PalletOne has undertaken several strategic initiatives to strengthen its market position and enhance its service capabilities.
Automated Manufacturing Expansion
In June 2024, PalletOne launched an automated pallet assembly machine redeployment program to optimize its manufacturing capacity. This initiative involves strategically relocating high-capacity automated pallet assembly machines to growth markets nationwide, including Adairsville, Georgia; Chandler, Arizona; and Houston, Texas. This redeployment aims to better serve high-volume customers in high-use regions and demonstrates the company’s commitment to flexibility and responsiveness in meeting customer demands.
Houston Metropolitan Area Expansion
PalletOne has strategically expanded its operations in the Houston metropolitan area to build on its experience serving high-volume chemical and energy customers in the region. This expansion included increasing capital investment in the area and opening a new high-capacity automated pallet assembly line at its Port Arthur location. The enhanced capacity enables the company to offer a wider range of pallet products and services, providing local customers with more options to meet their specific requirements. Benefits for local customers include improved efficiency through lower transit costs, shorter turn times, and enhanced flexibility.
Acquisitions and Integration
As part of UFP Industries, PalletOne continues to grow through strategic acquisitions. In January 2025, UFP Industries acquired C&L Wood Products, Inc., which had trailing 12-month sales through November 2024 of $24.8 million. C&L will operate as part of UFP Packaging’s PalletOne division, further expanding the company’s capabilities and market reach.
Financial Performance and Market Position
PalletOne’s financial performance reflects its strong market position and operational efficiency, though reported figures vary across sources.
Revenue and Financial Metrics
Multiple sources provide different revenue estimates for PalletOne:
As part of UFP Packaging’s portfolio of companies, PalletOne contributes to the division’s overall revenue generation of over $1 billion annually. UFP Packaging is a wholly owned subsidiary of UFP Industries, Inc. (Nasdaq: UFPI), a publicly traded company.
Recent Performance Trends
Recent financial reports indicate mixed performance trends for PalletOne within the UFP Packaging segment:
In Q4 2024, PalletOne achieved a 13% increase in organic unit sales due to market share gains, outperforming other divisions within UFP Packaging that experienced declines. For the full year 2024, PalletOne’s organic unit sales increased by 9%, also attributable to market share gains. This growth occurred despite an overall decline in UFP Packaging’s net sales, which decreased by 11% compared to fiscal 2023 due to an 8% decrease in selling prices and a 5% decline in organic unit sales across the segment.
However, Q1 2025 saw a 1% decline in organic unit sales for PalletOne, reflecting softer demand in the market. This performance indicates the cyclical nature of the industry and highlights the importance of the company’s diversified approach and focus on market share growth.
Sustainability Initiatives
PalletOne demonstrates a strong commitment to environmental responsibility through various sustainability practices integrated into its business operations.
Sustainable Product Design
The company leads the industry in education and promotion of unit load design, a concept focused on reducing packaging waste. This process minimizes packaging weight and volume while reducing raw material usage, resulting in more environmentally friendly products. PalletOne encourages customers to engage with this approach by offering free pallet audits and training classes on systems-based design.
Responsible Sourcing
PalletOne purchases much of its raw material from replenished, managed forests, recognizing wood as a renewable resource. Many of the company’s suppliers are certified by the Sustainable Forestry Initiative® (SFI®) and/or the Forest Stewardship Council® (FSC®). All PalletOne plants are eligible for FSC and SFI chain-of-custody certification should a customer specify that as a product requirement.
Recycling and Recovery Programs
The company operates aggressive pallet recovery and recycling programs to divert fiber from the waste stream. Nearly all of PalletOne’s products and by-products follow a cradle-to-cradle vision of packaging, where products are collected and recycled to produce other useful products. Additionally, PalletOne operates an industrial recycling division dedicated to helping customers repurpose material generated from their waste stream.
According to company reports, 100% of PalletOne’s products are recyclable, and over 15% of total products sold in recent years were recycled or upcycled. The company manages its waste stream to upcycle all by-products including sawdust, wood chips, and mulch.