Columbus Container Inc., a private, family held business established in Columbus in 1975, has agreed to be sold for $100 million in cash.
A competitor, Illinois-based Packaging Corporation of America, announced after the stock market closed Tuesday that is was purchasing all of the assets of Columbus Container. PCA will acquire the full-line corrugated products facility in Columbus, five warehousing facilities and other related operations in Indiana and Illinois. The sale, subject to regulatory approval, is expected to close in the fourth quarter of this year.
Rather than transfer after moving to Columbus for work two years earlier, Bob Haddad Sr. and his wife Helen, who have been married 62 years, decided to stay and establish Columbus as their home and the place they would start and build their own company. Columbus Container was founded on a shoestring “on a dirt road (in a building) with no heat,” Haddad said.
With just a few employees, Haddad has spent half his life building the company and increasing the workforce to 260 people at its Columbus corrugated products facility. It grew to become the 10th largest manufacturer in Bartholomew County, and 21st largest business in all. “The American Dream is not dead. It’s for you to do,” Haddad said. “Don’t give up.”
For more on this story, see Thursday’s Republic.