Jamestown Container to Acquire H.P. Neun
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According to a report this past week by WHEC-TV, Rochester, N.Y., USA, Jamestown Container (Buffalo, N.Y.) announced an agreement to acquire H.P. Neun Co., Inc.’s packaging business in Lyons. The acquisition will be effective in May 2016. The terms of the agreement were not disclosed.
Plans to shut down H.P. Neun were announced on February 22.
"H.P. Neun agreed to sell our business now because we believe it is in the best interests of our customers, employees, and shareholders," said Stephen M. Bregande, president and CEO.
Both companies will work closely together during the transition of business to Jamestown Container, which they expect to complete in 2016. As part of the agreement, Jamestown Container plans to retain the H.P. Neun account managers, customer service, and design professionals responsible for these accounts, as well as several of the key operations and distribution personnel.
In addition to corrugated and fulfillment services, the company plans to operate the Viva Foam segment of the H.P. Neun business in its current Lyons, N.Y., manufacturing facility, with many of the existing H.P. Neun foam personnel joining Jamestown Container as well.
The acquisition will require Jamestown Container to hire several additional operations personnel at its Rochester, N.Y., manufacturing facility.
