A few days ago I reported that Nordlie converted to a employee owned company and now it looks like they are going to merge with Kennicott another ESOP company.
NORDLIE INC. PROPOSED MERGER
Warren MI: Nordlie Inc. headquartered in Warren, MI announces that they are currently engaged in discussions with Kennicott Brothers out of Chicago, regarding a possible merger. Nordlie Inc. recently became a 100% ESOP owned corporation and Kennicott Brothers is also 100% ESOP owned.
Founded in 1928 by Fred Nordlie, Nordlie Inc. has been operated by James O. Nordlie after his return from military service in World War II and graduation from The University of Michigan. Upon his induction into the Michigan Floral Hall of Fame in 2011, Nordlie stated “A great part of the credit (for our success and longevity) goes to our loyal, hard working , and dedicated employees.
Both Nordlie & Kennicott Brothers are situated primarily in the Midwest with store locations that complement each other extremely well. Nordlie operates seven branches located in Michigan, Ohio, and one in Florida while Kennicott Brothers operates 11 branches in Illinois, Inidana, Wisconsin, Minnesota, and Georgia. The proposed merger is also thought to provide economies of scale and expertise, positioning both companies for a strong future. Details of the transaction remain under discussion and management of both companies are optimistic that all such details can be completed in a matter that will be agreeable to all parties involved.