Kent Pet Group, a subsidiary of the family-owned Kent Corporation, has announced plans for an $80 million expansion in Muscatine, Iowa. CREDIT KENT CORP.
Muscatine has for a long time had an amazing number of big, successful businesses that belied the number of residents in the community of 23,797. Two of Muscatine’s biggest companies, HNI and Kent Corporation, have made some recent announcements that will only ensure that this community continues to surprise and exceed expectations. Publicly-traded HNI Corporation […]
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Muscatine has for a long time had an amazing number of big, successful businesses that belied the number of residents in the community of 23,797.Two of Muscatine’s biggest companies, HNI and Kent Corporation, have made some recent announcements that will only ensure that this community continues to surprise and exceed expectations.Publicly-traded HNI Corporation and Kimball International, Inc., announced on March 8, that HNI will acquire all the outstanding shares of Kimball International in a $485 million transaction. “We are excited about joining with Kimball International, a high-quality company we have long admired for its recognized brands, furnishings expertise built over 70 years, and established relationships across multiple sectors,” Jeff Lorenger, HNI’s chairman, president and CEO, who will continue to lead the company, said in a news release. “The combined company will have a stronger platform for growth, delivering significant benefits for our shareholders, members, dealers, and customers.” Kimball, based in Jasper, Indiana, has a family of brands including Kimball, National, Etc., Interwoven, Kimball Hospitality, D’style and Poppin.This announcement comes on the heels of HNI being named as one of America’s Most Responsible Companies by Newsweek. HNI, which came in at No. 6, is one of only four Iowa companies and the only eastern Iowa firm on the list. Moline-based Deere & Co. joins the list at No. 99.“Important components in our daily efforts include a commitment to reducing our environmental impact, making a positive social impact, and practicing good corporate governance,” Mr. Lorenger said in an HNI news release announcing the ranking. Privately-held Kent Corporation also recently announced that after looking at other sites in other states, its Kent Pet Group will build a new $80 million manufacturing plant on 70 acres adjacent to the Kent Distribution Center at 2905 N. Highway 61 in Muscatine.In a news release, Kent Pet Group said the new facility will be a 113,000-square-foot building featuring state-of-the-art manufacturing equipment, research and development, as well as room for future growth plans. The project represents a capital investment of a little more than $80 million, according to information from the Iowa Economic Development Authority (IEDA). The project, IEDA said, is expected to create 28 jobs, of which 27 will have a wage of at least $22.08 per hour. “We are fortunate to have such a solid business looking to continuously contribute to the economic vitality of our community. Kent is one of the largest employers in Muscatine and we are thankful for their decision to grow here,” Brad Bark, Muscatine mayor, and president and CEO of the Greater Muscatine Chamber of Commerce and Industry, said in a message to the QCBJ.We are excited for these companies and their stakeholders and employees, and for the tremendous potential it gives to Muscatine and beyond. QCBJ
