Fledgling business that started with 20 pallet recyclers, manufacturers and brokers today deploys a pool of some 22 million signature red block pallets serving over 700 corporate customers and 360 distributors across North America
ITASCA, IL – June 21, 2022 - The year was 1997. The Chicago Bulls were basking in the second coming of Michael Jordan’s Hall of Fame career, on their way to a fifth NBA title.
About 300 miles south, in Cincinnati, Ohio, around that same time, a group of businesses came together for a meeting. They were independent pallet recyclers, pallet manufacturers and brokers, and they were struggling to combat an increasingly difficult threat, where market share was slowly but inexorably being eroded by one dominant competitor.
As the story goes, each party agreed to chip in about $50,000 to start a new company. It was founded as the Pallet Exchange Company. Those investments provided the seed capital to build a network with a new inventory of rental pallets, from which they could all draw.
Shortly after, to avoid confusion with the old market for exchanging white wood pallets—and help give the emergent rental pallet business its own identity—the name was changed to PECO Pallet, Inc., the product recognized by its signature red, high-quality block pallets.
Today, that fledgling business has grown into North America’s second largest rental pallet pool operator, with some 400 employees directing an operation that serves some 700 corporate rental customers and 360 distributors with an inventory of nearly 22 million pallets.
“PECO started from the humblest of beginnings, an idea to address a market whose needs were changing, with customers demanding a differentiated service model,” noted Joe Dagnese, PECO’s chief executive. “Some 25 years later, what we remember and celebrate most is that our customers, employees, investors, and valued supplier and partners believed in us.”
“We recognized then and today that we must continuously earn our clients’ trust and their business through our performance,” he added. “And that’s why we are here 25 years later, and why we look confidently forward to the next 25 years.”
PECO’s signature red pallets can be found delivering goods at thousands of stores across North America. They play a critical supply chain role; pallets are the primary platform on which businesses stack, secure and ship products of all types in trucks, intermodal rail containers and other conveyance vehicles.
PECO’s network deploys the second largest rental pallet inventory in North America serving the nation’s big-box retailers, club stores, consumer products companies, grocers and other businesses.
PECO’s managed pool of some 22 million of its signature red, high-quality block pallets are deployed among 90 pallet management locations in the U.S., Mexico and Canada. The company works with nearly 100 independent truckload carriers to fulfill and deliver pallet orders to manufacturers, as well as recovery and return of pallets from retailers and distributors to its depots.
About PECO Pallet, Inc. – Itasca, IL-based PECO Pallet is the North American leader in pallet rental services and provides millions of its signature red block pallets to major grocery and consumer goods manufacturers in the U.S., Mexico, and Canada. PECO Pallet’s tremendous growth over the last 25 years reflects the company’s commitment to quality and service. Customers using PECO’s superior pallets experience less product damage, greater efficiency, improved safety, and significant cost savings. PECO is headquartered in Itasca, Illinois. For more information about PECO Pallet, please visit www.pecopallet.com.