Michigan-based Opus Packaging Group has acquired space in Whitestown to establish a manufacturing and distribution facility.
The company, which specializes in corrugated packaging, has leased approximately 170,000 square feet of space just off Interstate 65 in Boone County.
Real estate advising firm Avison Young says the deal was a sale-leaseback, which enables a company to sell an asset to raise capital. The company can then lease the asset back from the purchaser.
“Our strategy is to grow and expand and this new location in Whitestown gives us that flexibility. This facility is where we will continue to provide opportunities for learning and advancement to our younger associates well into the future,” said Louie Sicilia, chief financial officer of OPUS Packaging.
The family-owned company says it specializes in consultation and design, testing, production, and distribution.
The business dates back to the 1940s, but in recent years it has combined several facilities under the Opus brand. It also has operations in Michigan, Ohio and Illinois.