Central Package & Display (CONT’D FROM PAGE 22)
brother who did not give him a break. “I remember he charged me 7 percent interest over seven years,” Haglund says. Within five years, Haglund owned 100 percent of the company, buying out Hinitz and Page. At that time, the Minneapolis packaging market was changing dramatically, from an industrial base of brown box users to highly spe- cialized, technology-driven industries such as health care and medical equipment and instrumentation. In fact, that segment of the Minnesota economy grew so prolifically in the 1950s, ’60s, and ’70s that the Twin Cities area became to be known as “Medical Alley.” The growth of companies such as 3M, Medtronic, and Boston Scientific, aided by the University of Minnesota’s well-en- dowed medical research and development labs, created a demand for a highly specialized base of professional services and material suppliers. Against this backdrop, Haglund saw his early opportunities for investment and growth. “Selling is 50 percent personality,” he says. “If the customer likes you and you come in with a new product, you’ve got half the sale completed.” Growing And Acquiring Looking for those new product offerings for his cus- tomers, Haglund acquired two additional companies in the early ’80s: one, a local sheet plant, and the other, a
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November 4, 2024
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