Pearson Packaging acquires Moen
L.A. company makes similar equipment
West Plains manufacturer Pearson Packaging Systems has bought a Southern California company that makes similar packaging equipment, bringing at least 12 new jobs to Spokane.
Los Angeles-based Moen Industries also makes equipment bought by firms that sell products packed in boxes or other containers.
Michael Senske, CEO of Pearson, said terms of the deal will not be disclosed, but it adds Moen’s capabilities in tray forming equipment to the Pearson product line.
The deal was for Moen’s assets and patents and customer information; it did not include the Moen facility, Senske added.
Some of the most important patents cover “Bliss” packaging: containers designed to allow products to be stacked and secured in sturdy cardboard boxes.
The last major acquisition by Pearson was the 2008 purchase of Chicago-based Goodman Packaging Equipment, which led to Pearson adding 35 positions in the Chicago market.
The Moen deal means Pearson will maintain a Southern California sales office and hire 12 workers at its West Plains location within the next year, Senske said. Most of those new jobs will be assembly technicians, with a starting salary of around $30,000 per year.
Some of the new jobs will be engineers with salaries at least twice that level, Senske said.
All those jobs will include benefits, including medical, dental and vision care coverage, he added.
Pearson will also relocate the Moen manufacturing equipment to the West Plains.