Holland, Michigan based Coastal Group, a family investment management company, has acquired Veecor, a Louisiana based honeycomb packaging manufacturer. With the acquisition, Coastal Group has launched Coastal Honeycomb, LLC, which will produce the lightweight, durable packaging material in Holland and create an initial 12 jobs.
The acquisition adds honeycomb to Coastal Group’s range of packaging services that include design, testing, corrugated, 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,” said Paul Doyle, Coastal Group CEO. “Coastal is the leader in protecting occupants in all forms of transportation and the products they are transporting.”
Veecor has produced honeycomb packaging for over 50 years. In addition to production, Veecor manufactured and designed the honeycomb production equipment used by over 40 companies in the U.S. today. Key members of the Veecor team are moving to Holland, Michigan to support the operation.
Coastal Honeycomb was fully operational on May 26th and will hold all rights for the manufacture and sale of honeycomb equipment.
The Coastal Group is a family-owned investment management company with operating companies that include Coastal Automotive, Coastal Container, and TKP Investments. Its mission is to invest for the long-term while creating value for our employees, customers, suppliers, shareholders, and community.