Molenaar LLC of Willmar, Minn., sold
WILLMAR — A letter of intent has been signed with Wilson Tool International to sell Molenaar LLC of Willmar to Fey Promotional Products Group of Edgerton.
Fey plans to move Molenaar’s manufacturing to Edgerton and close the plant in Willmar, which has been in operation for more than 50 years.
The announcement was made Tuesday. The deal becomes final in June.
Wilson Tool International, of White Bear Lake, has been the owner of Molenaar LLC since 2007.
Fey said in its announcement that some employees at the Willmar plant will be offered jobs in Edgerton but the final number hasn’t been determined yet. Because Fey is retaining the Molenaar brand, no disruption in service is expected for the company’s customers.
Molenaar specializes in molding and decorating promotional business products ranging from housewares and office items to pens, key chains and magnets. Eighty to 85 percent of the products that leave the plant are manufactured locally by its 90 employees.
Fey Promotional Products Group is family-owned and operated and serves distributors nationwide.
“I’m very excited about the acquisition of Molenaar and its potential for our family business,” Mike Fey, vice president of Fey Promotional Products Group, said in a statement Tuesday. He said the addition of Molenaar LLC will broaden Fey’s product line and expand the variety of its U.S.-made promotional products at several different price points.