The parent company of a Jackson, Ohio, molding company has been purchased in a housewares industry deal that unites two suppliers of ice buckets and other hospitality items.
Lancaster Colony Corp. of Columbus, Ohio, sold its Lancaster Colony Commercial Products Inc. subsidiary to Lancaster Commercial Products LLC, a private firm owned by Frederick Haleluk, who also owns Mr. Ice Bucket, a New Brunswick, N.J.-based retailing company.
Lancaster Commercial Products operations include Jackson Plastics Operations Inc. in Ohio, a custom injection molder and structural foam molder.
The companies did not disclose a purchase price.
“The transaction brings together two successful international companies with complementary product lines and reputable market brands,” Haleluk said in a June 5 news release. “We will plan for accelerated growth by leveraging our enhanced strengths in geographical coverage, production expertise and customer relationships.”
Mr. Ice Bucket works with outside contract manufacturers, touting its line as wholly made in the U.S. Its hospitality items are marketed toward home use, while Lancaster’s lines are targeted for the hotel and lodging industries.
The two firms will operate independently under the common ownership of Haleluk, who will be both CEO and chairman of the board. Ken Evans, president of Lancaster Commercial Products, said he does not expect any significant changes in key personnel or business agreements with suppliers or customers at this time.