IndustryWeek Best Plants Award winner Hoffer Plastics is thriving with the grandchildren of founders in charge, as is Rocheleau Tool & Die.
Passing company management from grandparent to parent to child is rare, but it can lead to success in many industries. Hoffer Plastics, winner of a 2024 IndustryWeek Best Plants Award for its facility in South Elgin, Illinois, is one such company where three grandchildren of the company's founder share co-CEO roles.
At Plastics Machinery & Manufacturing, a publication owned by IndustryWeek parent company Endeavor Business Media, editor Karen Hanna recently wrote about Hoffer and Rocheleau Tool & Die, another company being run by grandchildren of the founder.
"Passing on a family business isn’t the same as passing on Grandma’s favorite china set — unless you’re considering the fragility of the inheritance," Hanna wrote.
And, stay tuned for more IW Best Plants Awards announcements. We announced finalists in early June, and judges are hard at work on the second stage of our three-step evaluation process.
