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NORDLIE INC. PROPOSED MERGER

NORDLIE  INC.  PROPOSED  MERGER

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.

3 Comments

  • This is the way of the world today – “go big or go home”. Overall a combined entity will likely see more scale efficiencies leading to more profits. The flip side is some of the extra profits will result from paying for less employees – there will certainly be people losing jobs where they overlap..
    Less competitors means less choices for the customer as well. So the combined company is a more profitable business, but at what cost on a human level?
    I understand the reasoning for it from a business standpoint, but don’t care for it on a personal level.
    Guess I’ve got a soft spot for the common man.
    Bear

  • Yes they did absorb Vans last year and they also stated in my interview with them the that were actively seeking expansion. Did not have to wait long! This makes the news of Nordile going to an ESOP (Employee owned) logical as it is much easier to merge with a company that is already structured that way, like Kennicott. Good Luck to all.

    And you heard it first on Flowersandcents.com………………….

  • didn’t kennicott buy out vans a year or two ago?. now the acquisition of nordlies. i have no idea what this means…but i always look for the “why” things occur. i can only identify one common market in grand rapids, mi with a nordlie and a van operation.
    perhaps some one will come along and enlighten me

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