This marks the sixth Pallet manufacturing acquisition in less than two years and the second in Queensland.
Hyne Group CEO, Jim Bindon, acknowledged the proud history of Seapal which has been in operation since 1998under the current ownership of Trevor Carter.
“As we continue to grow our national pallet network, we welcome Seapal, which, like the Hyne Group, has along history across Queensland and Northern NSW. In addition to standard pallet manufacturing, the business delivers custom solutions to service the unique freighting requirements such as those of large manufacturing businesses”.
“We see some strong, future synergies with our Express Pallets & Crates business located close by in Narangba. This includes fibre supply, freight, staffing & management, production planning and raw material scale efficiencies.” Mr Bindon said.
Seapal has an extensive network of customers across the mining, agriculture, logistics and food sectors, with Peter Hyne recently addressing staff on site and welcoming them to the Hyne Pallets structure.
Timber Supply for the Seapal business will continue from the co-located sawmill, ownership of which will be retained by Trevor Carter. But this will be complemented by Hyne’s leading Queensland sawmill business at Tuan, one of the largest sawmills in Australia. This supply capability and flexibility, ensures certainty and consistency for all existing and future customers.
The Seapal trading name will remain the same and the team will transition across to Hyne Pallets at completion.
The acquisition of Seapal Pallets & Crates will finalise on 1 October 2025, subject to all Completion Precedents being met.
The Hyne Pallets network now consists of Seapal Pallets & Crates, Kilcoy, QLD; Express Pallets &Crates, Narangba, QLD; Newcastle Pallets, Newcastle, NSW; Rodpak, Melbourne, VIC; Pallet & Bin, Shepparton, VIC and Pinetec, Perth, WA.
