Triton Stone Group makes $40M deal, move to New Orleans area ($75,800, plus benefits)

Triton Stone Group, a wholesale distributor of granite and other natural stone products, is moving its headquarters to the New Orleans area from north Mississippi, officials said Wednesday.

The company is expanding its existing administrative offices in Harahan to serve as the headquarters for the business. An additional auxiliary office is located in Mandeville.

The move comes after Triton Stone Group of New Orleans acquired the Triton Stone brand in a $40 million deal. 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.

Triton Stone Group of New Orleans, which will now operate as Triton Stone Group, will also add a distribution center at the Port of New Orleans to its operations. The 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 is set to break ground by the second quarter of 2017 on Jourdan Road and is expected to increase container shipments to New Orleans. Port officials have been working to replace container numbers lost from Chiquita’s decision last August to move its cargo operations back to Gulfport, Mississippi.

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, according to a news release from LED. 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.

LED offered Triton Stone Group an incentive package that included a $100,000 grant from the Economic Development Award Program. The company also is expected to use the state’s Quality Jobs Program.

With the acquisition, Triton Stone Group of New Orleans is securing assets of Triton Stone Holdings, a wholesale and retail brand based in Southaven, Mississippi that imports high-quality stone. The acquisition adds five retail locations to Triton’s current nine.

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.

Established in 2004, Triton Stone imports and is a wholesale distributor 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. Triton Stone of New Orleans was established in 2006.

Sheldon was right to switch to geology.
The study of quantum physics is going nowhere.

FTA: Triton Stone Group, a wholesale distributor of granite and other natural stone products.
Triton Stone will create 12 new direct jobs with the project, with an average annual salary of $75,800, plus benefits.

12 new direct jobs
+
nine new indirect jobs
=
a total of more than 20 new permanent jobs

Still using that ‘new math’...

People have to be crazy to move to New Orleans.... New Orleans is literally 28 feet BELOW sea level! It would be like going to your local bank or mortgage company and saying:

"Hi, how about lending me millions of dollars. I have this 'great idea'; I want to go out into the ocean far enough that I can build a house 28 feet BELOW sea level, and I want to build a levee 35 feet high to surround it so my house will stay dry and safe." "Can I have the money now?"

They would reject your loan and crazy idea, and ask you to leave so fast it would make your head spin!

If I'm not mistaken, I believe the Lord Jesus Christ mentioned something about the folly and ultimate outcome of "building a house on sand" verses building it on a "solid rock".

People in New Orleans have taken the analogy one step farther: Building an entire city "on sand", 28 feet below sea level... Yes, that's the ticket.

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