JESSICA HARPER ANDREW MILLER AARON VEHLING
Think Bank expands to Apple Valley, Eagan 2A Lifecoach helps find happiness, achieve goals 2A Development around transit an economic catalyst 44A
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DATE 22, ##, 2010 2009 JULY
VOLUME 30, NUMBER # VOLUME 31, NUMBER 21
Dakota County Tribune Since 1884
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Packaging company growing despite tough times by Jessica Harper
FORUM
three companies: Cloud Packaging Services, Cloud When purchasing goods Equipment Company and at the grocery store, few Toll Packaging Services. think about what went into “I think we will be very the packaging. sought after as a result,” But for Lakeville-based Ryt-Way Human ResourcRyt-Way Industries, packes Director Skip Bolton aging is all they think said. about. Ryt-Way became interestThe company has been ed in acquiring Cloud Sopackaging dry foods such lutions because it has highas ready-to-eat cereal, side speed packaging equipment dishes and sweeteners for and uses specialized packthe nation’s largest conaging, Bolton said. sumer packaged good com“We felt it was a good fit panies for the past 45 years. for us,” he said. Photo by Jessica Harper It was founded in 1965 Ryt-Way industries in Lakeville has been packaging dry food such as ready- The acquisition is expectby Glen Hasse with money to-eat cereal, side dishes and sweeteners for 45 years. The contract packaging ed to bring in $200 million borrowed from his father. company was founded in 1965 by Glen Hasse. The company’s first product was in combined revenue annuThe company’s first powdered milk. ally, he said. product was powdered Prior to the acquisition, milk. Ryt-Way made between Hasse retired in 2008 $100 million and $120 milRyt-Way Industries is a contract packager of dry and sold the company to Wind Point Partlion in revenue annually. foods and is located at ners in Chicago. Through the deal, Ryt-Way also acquired 21850 Grenada Ave. in That is when CEO David Finch began 230 former Cloud Solutions employees. Lakeville. overseeing Ryt-Way. Although the company is doing well Phone: (952) 469-1417 Finch has been in the food and consumer now, times were not always so rosy. Website: www.rytway.com packing industry for 20 years. The company was hit hard by the recesHe started his career at Hormel Foods in sion in 2007 and 2008. Since being sold to Wind Point Partners, 1990. In 2007 alone, Ryt-Way lost about a Finch said he sees the industry as excit- Ryt-Way has grown extensively. third of its business and saw revenues drop In June, Ryt-Way acquired Cloud Pack- between 15 and 20 percent, Bolton said. But ing and fast-paced. aging Solutions, a food and beverage con- the company remained resilient and was The industry has changed quite a bit, he said, in that it began as a small exter- tract packaging company based in Des able to avoid layoffs, he said. nal solution for a large group of companies Plaines, Ill., making Ryt-Way one of the By 2009, the company was able to climb and has grown into a sophisticated multi- largest packaging companies in the nation. back out on top. Cloud Packaging Solutions consists of See Ryt-Way, Page 14A billion-dollar industry.
In Brief
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INSIDE BIZ
Ryt-Way Industries in Lakeville has been hiring and recently acquired another company DAKOTA COUNTY TRIBUNE
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Consumers can take several steps to avoid unwanted credit card offers, including opting out of receiving prescreened offers. LORI SWANSON 4A FORUM
Real change happens at the community level. Each of us is responsible for vibrant, healthy communities. 4A
MARY AJAX BUSINESS 101
Understanding reactive emotions in human interaction will help resolve conflicts in most situations. STEVE BEZANSON 6A BEST PRACTICES
KEVIN STIRTZ
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Knowing how to properly address complaints can mean the difference between a one-time and a return customer. 6A
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