P&M Corporate Finance (“PMCF”) is pleased to announce that it served as exclusive financial advisor to Kentwood Packaging Corporation (“KPC” or the “Company”) on its sale to Hood Container Corporation (“Hood”), a wholly-owned subsidiary of Hood Companies, Inc.
Jack Skoog and Tom Boluyt, co-owners of Kentwood Packaging Corporation, stated, “We have built this business successfully over the last 30 years by creating a customer-centric business model. Our focus has been to partner and collaborate with our employees, customers, and suppliers. We are extremely excited to be joining a family-owned company in Hood, whose values and culture truly mirror ours. We will be a stronger partner for our customers with the benefits of Hood’s national footprint and their ability to offer vertical supply chain integration.”
Jack Skoog will continue his leadership role in this market as General Manager and Tom Boluyt after 41 years at KPC will be enjoying his retirement. Tom commented, “We have incredible employees and customers at KPC, and I have enjoyed working with them over all these years. I think they will benefit from being part of Hood Container.” Jack added, “I expect a seamless transition and look forward to a successful future with Hood Container.”
Charlie Hodges, President and COO of Hood Container Corporation, commented, “Kentwood Packaging has a long history of providing superior products and customer service to the Grand Rapids markets. Tom Boluyt and Jack Skoog have created a company that has at its core, a culture of strong leadership, care for their employees, and stellar product and service offerings to support and surpass their customers’ needs. Hood sees Kentwood as an excellent fit with our own company’s guiding principles and desires to be the best supplier to our customers in the markets we have elected to serve. The addition of Kentwood will help us to continue to build on those key qualities as we merge Kentwood and our own cultures going forward.”
The KPC owners selected PMCF, led by John Hart, to serve as their exclusive financial advisor/investment banker in the transaction. “John and his team were instrumental to the success of this transaction. Their strong understanding of the corrugated packaging space was apparent; they helped find the best partner for our company and efficiently navigate each step of the transaction process. I would highly recommend PMCF to other packaging companies considering a transaction,” said Jack Skoog.
Tom Boluyt added “PMCF did a great job preparing us for the transaction process and best positioning the company for discussions with potential partners. John clearly has a lot of experience in our space and a strong network of relationships.”
Also commenting on the transaction was John Hart, Managing Director and Leader of PMCF’s Packaging Group, “We were proud to represent KPC in this transaction. Jack and Tom built a highly successful and unique packaging company that should continue to do well under Hood Container’s ownership. It was an honor to work with Jack, Tom, Bill, and their team in achieving this major milestone.”
PMCF is a client-centric middle market investment bank providing merger and acquisition advisory services to privately held shareholders as well as public, and private equity owned companies worldwide. The firm combines expansive industry and transactional expertise with highly engaged, senior-level bankers to create tailored solutions for clients. PMCF has been serving the packaging industry for over 20 years and has a long track record of successful transactions involving specialty, niche players across most segments of the industry.
About Kentwood Packaging Corporation (KPC)
Located in Walker, Michigan, Kentwood Packaging Corporation is an ISO certified packaging company that specializes in custom packaging solutions across all industries. Its diverse manufacturing operation embraces both large and small order quantities across a wide range of configurations and applications. KPC also offers a suite of packaging supplies and services to customers. For more information about Kentwood Packaging Corporation (KPC), please visit www.gokpc.com.
About Hood Container Corporation
Hood Container Corporation is a wholly owned subsidiary of Hood Companies, Inc. Hood Companies is a privately owned, closely held holding company and is the parent to operating subsidiaries involved in the manufacture and distribution of forest and wood products, building and construction materials, and flexible and corrugated packaging products throughout North America. For more information about Hood Container Corporation, please visit www.hoodcontainer.com.
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