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A company that owns a Fort Wayne packaging plant has been sold, and its new owner says it plans to add jobs.
C&M Fine Pack Inc. makes plates, trays, bowls and other food containers at its plant at 7707 Vicksburg Pike and at another plant in San Bernardino, Calif. It’s been bought by D&W Packaging LLC, a holding company based in Fountain Inn, S.C.
About 400 work at the Fort Wayne plant, but Joseph Lancia, president and CEO of D&W, said Monday that the company would add about 20 workers in the next few months.
“It could expand more in the future,” Lancia said.
The 20-year-old Fort Wayne plant has a resin-compounding capability that’s needed by another D&W company, Dispoz-o Products LLC, also located in South Carolina.
Dispoz-o and D&W’s other company, Wilkinson Industries Inc. in Fort Calhoun, Neb., also are in the food-packaging industry.
Private-equity firm Mid Oaks Investments LLC of Buffalo Grove, Ill., financed the purchase of C&M. Mid Oaks differs from other private-equity funds in that its partners use their own money to invest, so they don’t have to sell companies five or six years after buying them, its Web site says.
Lancia said Mid Oaks works like Warren Buffett’s firm, Berkshire Hathaway Inc., which tends to buy companies and hang on to them.
“We also buy and add companies,” Lancia said.
The workers at C&M’s Fort Wayne plant don’t belong to a union. Lancia said he couldn’t estimate the pay of positions that include process engineers and production workers.
