HOLLAND — Family-owned investment firm Coastal Group has acquired a Louisiana honeycomb packaging manufacturer and has moved all of the company’s operations to Holland.
Two employees of Bogalusa, La.-based Veecor Co. Inc. also moved permanently to the Holland area to remain with the company, while another is working remotely on a contractual basis, according to a spokesperson.
The acquisition and launch of Coastal Honeycomb LLC is expected to lead to 12 new jobs in Holland to produce the company’s lightweight packaging materials, according to a statement.
Coastal Honeycomb started full operations today at 900 Brooks Ave. in Holland.
Coastal Group’s holdings also include Coastal Automotive, Coastal Container and TKP Investments. With the Veecor deal, the company’s packaging services now span design, testing, corrugated, honeycomb, packaging supplies and foam.
“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,” Coastal Group CEO Paul Doyle said in a statement.
Veecor has produced honeycomb packaging for more than 50 years. The deal also included all rights for the manufacture and sale of honeycomb production equipment, which Veecor originally designed and is currently in use by more than 40 U.S companies.
Terms of the Veecor deal were not disclosed.