Why did Pearson Packaging buy LA-based Moen Industries?
A little extra information for you, related to Thursday's news story about the Pearson Packaging acquisition of LA-based Moen Industries.
While the terms of the purchase are not disclosed, the overall sales figures for Pearson and Moen are worth noting.
In 2011 Moen registered sales in the $5 million to $10 million range. It was probably closer to the lower number.
Pearson in 2011 brought in a bit over $41 million. The whole goal of the deal, said Mike Senske, CEO of Pearson, was to broaden the company's product line. Moen has done some impressive work in desiging equipment and selling machinest that make Bliss-box containers; Bliss boxes are packages used by many food companies such as Kraft, Senske said.
Before the acqusition the general headcount for Pearson was 135. The deal will add about 10 to 12 jobs at its West Plains location, Senske added.