Liquid color supplier Riverdale Global has acquired land and a building in North Carolina for future expansion.
Aston, Pa.-based Riverdale recently paid $1.25 million for a 5.4-acre parcel in High Point, N.C., that includes a 35,000-square-foot building. The property is adjacent to an existing Riverdale site that includes a 200,000-square-foot production plant.
"It's right next door, and we'll grow and need space," President Paul Maguire said. "For now, we're going to use [the building] for storage and warehousing."
In spite of the COVID-19 pandemic, Maguire said that Riverdale is having its best sales year in 2021. "We're up 40 percent and have had to extend our lead times," he added. "Otherwise, we could be up 60 percent."
Like many firms, Riverdale has been challenged by labor and inflation issues in 2021, but the firm's production schedules haven't been impacted. Supply chain issues "have changed our timing and our ability to predict, but they haven't really affected us," Maguire said.
Riverdale has operated in High Point since 2016. The firm also has production plants in Aston; Minerva, Ohio; and Warrington, England. Riverdale shares ownership with plastic equipment firms Maguire Products Inc. and Novatec Inc.