The family-owned private equity firm Hoffmann Family of Cos. (HF Cos.) is continuing its recent spree of expansion by acquiring Viking Plastics, a manufacturer based in Corry, Pennsylvania, with operations in Kentucky and Indiana.
Viking Plastics, founded in 1972, provides assembly parts for applications across the automotive, HVAC and industrial markets. Viking’s clients include Ford Motor Co., General Motors, Rheem Manufacturing Co. and battery maker Saft.
“Viking Plastics has laid the groundwork essential for expansion, supported by its robust team, advanced manufacturing capabilities and distinctive commitment to culture,” said Geoff Hoffmann, co-CEO of HF Cos.. “We are excited to enhance our investment in the U.S. manufacturing sector with such a transformative organization."
Brothers Geoff and Greg Hoffmann are the second-generation co-CEOs of HF Cos. Their father, David, made his early fortune in the 1980s after founding the Chicago-based executive search firm now known as DHR Global.
In June, HF finalized a $21 million bid to buy Illinois-based Oberweis Dairy and then acquired Michigan’s Mackinac Island Ferry Co. in July to become the largest real estate holder in the area. The Hoffmann family also structures Osprey Capital LLC as its family office and operates Hoffmann Commercial Real Estate with over $1 billion in total property value.
The HF Cos. portfolio spans manufacturing businesses across Florida, Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Tennessee, Texas, Wisconsin, Canada and China. The family employs more than 11,000 people across its roughly 200 global businesses in aviation, agriculture, financial services, hospitality, transportation, marine, media and other industries.