Freehold-based packaging and supplies company Tomar Industries is going to acquire Avenel-based competitor Falcon Supply Co., its sixth acquisition since 1994.
Falcon has been in business for 42 years.
Under terms of the deal, sales professionals and key personnel will join Tomar, bringing total staff size to 35. The deal is expected to close by the end of next month. Additional products and services that were unavailable before will now be offered by the company because of the acquisition.
Tomar distributes packaging, janitorial and safety supplies, equipment and services for businesses, institutions, warehouses, manufacturers and front offices. They recently celebrated 50 years of business.
“In all these acquisitions, we try to learn the niche the company does really well and combine it with Tomar’s history of success,” Tomar President Thomas Field said. “With the new combination, we are able to improve what both companies already do.”
Field said continuously looking for acquisitions to increase Tomar’s market share is part of the business’s overall strategy.
Tomar began in a garage in 1968 and is now based out of a 40,000-square-foot building in Freehold.