Industrial packaging and janitorial supply company Tomar Industries of Freehold will acquire Falcon Supply Co. of Avenel, one of its direct competitors.
The transaction is expected to close by the end of September. This will mark Tomar’s sixth acquisition over the course of its 50 year history.
“In all these acquisitions, we try to learn the niche or thing the company does really well and combine it with Tomar’s history of success,” said President Thomas Field in a statement. “With the new combination, we are able to improve what both companies already do, which makes Tomar a better company because it can offer added solutions for industries.”
The acquisition will bring Tomar’s staff to 35. The company began in 1968 and now operates out of a 40,000-square-foot building in Freehold with a fleet of trucks that service companies throughout New Jersey, Pennsylvania, New York and Delaware.
The acquisition will allow Tomar to offer its customers additional products and services that were not available before, according to a release.