Jim Bindon Hyne CEO and Dean Roderick at Rodpak
The Hyne Group is moving into pallet manufacturing following the acquisition of Melbourne-based pallet and packaging manufacturer Rodpak. Source: Timberbiz
This announcement comes just over two years since the Hyne Group partnership with UK based company, James Jones and Sons Ltd, and the combined Group’s focus on achieving growth and expansion.
Hyne Group CEO, Jim Bindon said the acquisition is an exciting addition for the company:
“Rodpak is a highly regarded business with a long history in the manufacture of softwood timber pallets, with quality equipment and technology, and great customer relationships. All these factors are very consistent with the core position of the Hyne Group, which has operated in Australia for over 140 years,” he said.
“While it will be business as usual for Rodpak’s brand, staff, suppliers and customers, being a part of the Hyne Group brings the strengths of the international connections with James Jones and Sons Ltd, who are a leading pallet manufacturer in Europe with several sites throughout the United Kingdom.
“The broader security of being a part of a large timber manufacturing business, also brings further certainty for the Rodpak business and its customer base,” Mr Bindon said.
The Hyne Group has been a long-term supplier of timber to the pallet industry, and this remains a core focus for the sawmilling operations.
Mr Bindon said the Hyne strategy was not to add new capacity to the pallet market, but rather work with customers and industry participants who were ready to exit the industry or explore strategic partnerships as part of their own succession process.
“Continuing to supply these long-term Hyne pallet customers remains an essential part of the broader Group strategy,” he said.
“This acquisition has no impact to our high-quality, structural framing product range for the construction sector, which continues to be a critical focus for the Hyne Timber business.
“I am very pleased the current owner, Dean Roderick, will be staying on with the business, as he is well respected in the market and indeed internationally within the pallet sector. Dean has been known to the James Jones & Sons pallet business for some years, and he is most highly regarded by them also,” Mr Bindon said.
Mr Roderick said the new ownership model was a welcome move to take the company forward.
“Becoming part of a national and global ownership model is a significant milestone for us as a business, for our team members, customers and suppliers and we have been pleased with the process to get to this point,” he said.
“Rodpak is a great business with strong partnerships, built over many years. With the local strength and global reach of the Hyne Group, I am very confident the company is moving in a great direction, and I personally look forward to working with the broader Hyne Group team.”
The full acquisition of Rodpak will finalise on 1 May 2024 subject to all Completion Precedents being met.
