Triton Stone Group To Relocate Headquarters To New Orleans
Caitlin Berni | firstname.lastname@example.org | Published on February 1, 2017
NEW ORLEANS — Today, Gov. John Bel Edwards highlighted the announcement by Triton Stone Group of New Orleans that it has acquired the Triton Stone brand in a $40 million deal, and is relocating the Triton Stone headquarters to the greater New Orleans region from Southaven, Mississippi, in the Memphis, Tennessee, area. A wholesale distributor of granite and natural stone products, Triton Stone will create 12 new direct jobs with the project, with an average annual salary of $75,800, plus benefits. Louisiana Economic Development estimates the project will result in the creation of nine new indirect jobs, for a total of more than 20 new permanent jobs in Southeast Louisiana.
“The relocation of Triton Stone Group’s headquarters coupled with the construction of a new unloading facility at the Port of New Orleans is a strong win for New Orleans and our region,” said President and CEO Michael Hecht of Greater New Orleans Inc. “We are proud that Triton Stone Group will be owned and operated by New Orleanians, and we look forward to the job creation and economic impact this acquisition brings.”
As part of the project, Triton Stone Group of New Orleans, which will now operate as Triton Stone Group, will add a distribution center at the Port of New Orleans to its operations. The new distribution center will consolidate some of the company’s import activities from out-of-state to a single Louisiana location. The company is investing $700,000 in a new 22,500-square-foot center at the port. Construction of that center will break ground by the second quarter of 2017 and will result in an increase in container shipments to New Orleans. Triton Stone Group of New Orleans has imported about 1,200 containers of stone and granite into the Port of New Orleans annually, and ranked as the largest importer of stone and granite at the port. The increased activity will result in 600 more incoming containers per year in the near future, with that number expected to rise as additional retail stores come online.
“This new chapter in the history of Triton Stone Group is a testament to Louisiana’s strong business climate and unrivaled geographic resources,” Gov. Edwards said. “This project merges several importing efforts to the Port of New Orleans, providing Triton Stone Group with strengthened logistics capabilities and creating great new job opportunities for our people. We congratulate Triton Stone Group on its continued growth. This new activity is representative of strong, Louisiana-grown entrepreneurship.”
With the acquisition, Triton Stone Group of New Orleans is securing assets of Southaven’s Triton Stone Holdings, which is a wholesale and retail brand that imports high-quality stone. Triton Stone Group of New Orleans, which operated under the Triton brand name to retain better wholesale purchasing power, has operated nine retail locations until now. The acquisition of Triton Stone Holdings of Southaven includes five more retail locations. Coupled with the new distribution center at the Port of New Orleans, as well as seven independently owned and operated licensees, the consolidated operations of Triton Stone headquarters in New Orleans will oversee 22 locations across Louisiana, Texas, Arkansas, Tennessee, Mississippi, Alabama, Georgia, North Carolina, South Carolina, Florida and Virginia.
“We are so excited about the acquisition and future growth of Triton Stone Group,” said President Katie Jensen Peralta of Triton Stone Group. “We started in New Orleans, and this city has given us so much to be thankful for. Triton is a family company with deep roots in New Orleans. We are invested in the future of our employees and the future of our company.”
In addition to Triton’s increased presence at the port, the company is expanding its existing administrative offices in Harahan to serve as the headquarters for the expanded business. An additional auxiliary office is located in Mandeville. Triton Stone Group’s new distribution operations at the port will be located on Jourdan Road.
“Triton Stone Group’s new value-added distribution facility at the Port of New Orleans is a strong addition to the real estate portfolio we offer on more than 1,000 acres along the industrial canal,” said President and CEO Brandy Christian of the Port of New Orleans. “It further positions the Port of New Orleans as a leading import and export port in this region.”
Established in 2004, Triton Stone operations include the manufacturing, cutting, shaping and finishing of granite, marble, limestone, slate and other stone for building purposes. In recent years, the company has expanded its product offerings to include kitchen and bathroom fixtures – including sinks, faucets, toilets and tubs — and Triton distributes leading brands, including Toto, Jacuzzi, Elkay and more. Triton Stone of New Orleans was established in 2006.
To secure the company’s headquarters relocation and increased distribution activity in Louisiana, LED offered Triton Stone Group a competitive incentive package that includes a $100,000 grant from the Economic Development Award Program. The company also is expected to utilize the state’s Quality Jobs Program.
“The Jefferson Parish Economic Development Commission is very proud of its long history with the Jensen family and Triton Stone,” said JEDCO President Jerry Bologna. “The attraction of Triton’s corporate headquarters to Jefferson Parish, along with its associated investment and jobs, will add to the diversity of our corporate landscape and aid in the continued regionalization of the Port of New Orleans. JEDCO enthusiastically welcomes this company and looks forward to assisting Triton with their continued growth.”