Kentwood Packaging Corporation hsa been sold to Hood Container Corporation, a wholly-owned subsidiary of Hood Companies, Inc
Chicago, IL – CFI USA (P&M Corporate Finance, LLC) 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.
This transaction closed on 6 August 2022.
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