Indianapolis-based HP Products Corp., a distributor of janitorial supplies, has acquired Renard Paper Co. in St. Louis.
Terms of the purchase, which was completed Sept. 11, were not disclosed.
Renard Paper is a distributor of industrial and commercial cleaning products, paper goods, food-service products and safety equipment in the St. Louis area. The company was founded by Henri Renard in 1953 and was sold to HP Products by second-generation family members.
Renard does roughly $25 million in annual sales and has about 20 employees. HP Products said about 10 employees, including the sales team, will remain in place. The company expects to hire additional sales personnel in the future, it said in a press release.
HP Products, founded in 1964, has about 400 employees, including 220 in Indianapolis, and had $135 million in revenue in 2010. The company, the largest woman-owned business in the Indianapolis area, has operations in six states.
Its purchase of Renard is the company’s 14th acquisition in the past 20 years. In January, HP Products bought Great Lakes Supply and Chemical in Michigan City.
“This acquisition will double our size in the St. Louis marketplace, and this is an excellent complement to our business base that we established [in St. Louis] in 1987,” HP Products Chairman D. Ames Shuel said in a written statement.
Renard operates from a 100,000-square-foot warehouse and office complex and serves customers within a 100-mile radius of St. Louis.
Several of the combined company’s divisions will expand operations in the St. Louis area, HP Products President Bridget Shuel-Walker said.
Logistics support and warehousing operations will be at HP’s existing distribution center in nearby Hazelwood, Mo. HP has additional facilities in Indianapolis; Detroit; Chicago; Columbus, Ohio; and Paducah, Ky.
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