A family-owned holding company in the region acquired an out-of-state packaging manufacturer.
Holland-based Coastal Group said Tuesday that it acquired Bogalusa, Louisiana-based Veecor, a honeycomb packaging manufacturer.
Terms of the deal were not disclosed.
With the acquisition, Coastal Group launched Coastal Honeycomb LLC, which is now fully operational and holds all rights for the manufacture and sale of honeycomb equipment.
“Coastal Honeycomb adds another competence to the growing suite of Coastal Group businesses all centered around an expertise in personal and product safety through highly engineered energy management systems,” said Paul Doyle, CEO of Coastal Group. “Coastal is the leader in protecting occupants in all forms of transportation and the products they are transporting.”
The company will produce the lightweight, durable honeycomb packaging material at 900 Brooks Ave. in Holland and create an initial 12 jobs.
The acquisition adds honeycomb to Coastal Group’s range of packaging services, including design, testing, corrugated, packaging supplies and foam.
Key members of the Veecor team are moving to Holland to support the operation.
Veecor produced honeycomb packaging for over 50 years. In addition, Veecor manufactured and designed the honeycomb production equipment used by over 40 companies in the U.S. today.
Coastal Group is a family-owned investment management and holding company. Its portfolio companies include Coastal Automotive, Coastal Container, Coastal Honeycomb and TKP Investments.