Pentzer Acquires New Jersey Company

Pentzer Corp. has expanded its in-store marketing business with the purchase of New Jersey-based F.O. Phoenix Inc.

The acquisition is the largest yet by Pentzer, the holding company for Washington Water Power Co.’s non-utility investments. And adding Phoenix brings total employment among Pentzer’s subsidiaries to 1,750, 350 more than WWP.

Phoenix customers, including Nabisco, Kraft, and Valvoline, help the company generate annual sales of $40 million.

That figure will bring the total for Pentzer’s Creative Solutions Group to $100 million annually, producing operating income of about $15 million.

With Phoenix, the group consists of six companies with plants from California to New York.

Other Pentzer subsidiaries are in manufacturing and financial services. , DataTimes