Smooth Successions (CONT’D FROM PAGE 1)
Succession Planning & Exit Paths Though every family company is different, succession plans generally choose among four different paths: fam- ily-owned; partnerships and co-shareholders; employee ownership through Employee Stock Ownership Plans or ESOPs; or selling the business to outside parties. Acme Corrugated Box is a third-generation, fami- ly-owned business in Hatboro, Pennsylvania, in operation
COMMUNITY DATA CONNECTION DESIGN INNOVATION
since 1918. Jeremy Cohen said he cut his teeth in the business as a corrugator operator and worked his way up. His father and sole majority owner, Bob Cohen, has been in the industry for 56 years and is “still as passionate as ever,” Cohen said. Though he was not a microman- ager nor did he offer formal training,
ALL IN ONE BOX
Jeremy Cohen
he did give him space to build competency and success through hands-on experience which helped him earn the respect of his peers at the company, Cohen said. Today as GM, he meets one-on-one with his father once a month to discuss the company’s financial performance. It’s a good opportunity to make sure they are aligned, and Cohen said the nice thing about it that he and his father agree on things about 98 percent of the time. “We see things very similarly,” he said. As it stands, Cohen will one day assume ownership along with his two brothers, Erik, who works in sales, and a younger brother, Alex, who is learning the business. “Although I run the business today, there’s no way I’m going to be judge, jury and executioner, it’s going to be the three of us,” Cohen said, noting that the leadership of the company’s executive team, made of nonfamily mem- bers, is also critical to the value and future planning of the business. Royal Containers of Brampton, Ontario, was estab- lished in 1980 by entrepreneur Ross Nelson. Kim Nelson
PAPERBOX.ORG
Producing Quality Leads
was already holding leadership roles in the company and assumed her fa- ther’s role after he died in 2012 from cancer. Though his death was un- timely, Nelson said they had a suc- cession plan in place and succes- sion planning today is embedded in their company culture. Equity in the company will eventually be trans-
Read the articles in Board Converting News every week to learn about the people, places and machinery that will open the doors to new or repeat business. Making New Customers
Kim Nelson
ferred to her three children and her brother’s two children, but the company will be operated by an executive team and board of directors. Industry veteran Mark McNay is President of SMC Pack- aging Group of Springfield, Missouri, which was acquired by Green Bay Packaging as of May 31, 2024. “The best way to characterize that is a third-generation family business with a great culture acquired a third-gener-
Len Prazych at 518-366-9017 lprazych@nvpublications.com
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May 12, 2025
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