As Hyne continues to deliver on its acquisition strategy focussed on sovereign manufactured and vertically integrated businesses, this is the fifth pallet manufacturing acquisition in less than two years.
Like the previous four businesses, Newcastle Pallets is located in one of Australia’s leading population centres and manufacturing powerhouses of the country. Specifically, Newcastle represents the strong growth region of the NSW Hunter Valley and greater Newcastle area.
It also supplies a nationally operating customer base, some of whom are also customers of our other pallet manufacturing plants, enabling Australia’s significant manufacturing, mining, industrial and agricultural sectors to efficiently freight their goods.
Hyne Group CEO, Jim Bindon said Newcastle Pallets has been a valued customer of our Tumbarumba Sawmill in NSW during its approximately 25 years of operations.
“We are really pleased to bring Newcastle Pallets into the Hyne Pallets fold. I welcome the opportunity to have worked with the owner, our previously valued customer, Anthony Turner, to deliver a smooth succession transition for his business. We will also ensure a seamless transition for the staff, customers and suppliers of the business over the coming months,” Mr Bindon said.
This is the second investment the Hyne Group has in Newcastle, with an existing, large distribution centre to service the broad customer base of Hyne Timber with key framing and laminated beam construction timbers.
“This acquisition not only presents really good opportunities for our team members, customers and suppliers, but it further integrates the Hyne Group Newcastle region footprint to ensure efficiency and growth into the future.” Mr Bindon concluded.
The acquisition of Newcastle Pallets will finalise on 1 September 2025, subject to all Completion Precedents being met.
