Jamestown Container Companies announced today an agreement to acquire Midwest Box Company’s packaging business in Cleveland, OH, effective February 19, 2024. Terms of the agreement were not disclosed.
“This purchase provides Jamestown Container Companies an immediate, exciting expansion and growth opportunity in Ohio,” explained Joseph R. Palmeri, Vice President and Chief Operating Officer. “We constantly look for ways to strengthen our company’s position in the markets we serve, opportunities that support our long-term growth strategy to focus on core competencies, minimize the impact of rising costs, and maximize customer, employee and shareholder value.”
“We view this development as an exceptional opportunity for Midwest Box customers, as Midwest Box will operate as a dedicated division within Jamestown Container,” said Susan Hecht Remer, Owner and President. “Jamestown Container shares similar values, purpose and overall philosophy, assuring customers of our dedication to maintaining the same level of service that they have come to expect over the years.”
Both companies will work closely together during the transition of business to Jamestown Container, which they expect to complete quickly. As part of the agreement, Jamestown Container plans to operate the Midwest Box plant, and retain the General Manager, account managers, and customer service professionals responsible for these accounts, as well as several of the key operations and distribution personnel.
The acquisition may also require Jamestown Container to hire several additional operations personnel in their Macedonia, OH manufacturing facility.
“In addition to the new job creation, we believe this acquisition stabilizes and strengthens the jobs for our current workforce,” said Mr. Palmeri. “That—combined with our relationship with our world-class Greenpac paper mill, our role as the managing partner at Niagara Sheets LLC, and the continued process improvements in all of our plants—will enable us to enhance our products and services to our customers, support our leadership position in our markets, and strengthen our capability for future growth and expansion as opportunities arise.”
