Techchraft Acquires Gusdorf
Montreal, May 22, 2006---Techcraft Manufacturing, Inc. announced today the acquisition of Gusdorf Canada. Under the terms of the agreement, Gusdorf operations will be integrated into Techcraft, ensuring seamless continuity of product shipments and product development for Gusdorf’s customers.
“We are extremely excited to add Gusdorf to our growing stable of brands, and look forward to servicing our new customers.” said Techcraft President Danny Berthelet. “As we continue to grow our business and diversify our product mix, this acquisition fits in perfectly with our strategic plan.”
Building on the success of its home audio/video furniture business, Techcraft has now applied its manufacturing and sourcing expertise to its growing Paramount brand of home furnishings (acquired in 2004) and will apply this expertise to Gusdorf’s RTA furniture business. Terms of the acquisition were not disclosed.
“Our multiple brand strategy will afford our company, customers and representatives many opportunities for volume, category and channel growth,” said V.P. Sales Earl Dozier. “Gusdorf branded products will instantly benefit by utilizing the strength, integrity and best business practices that have enabled Techcraft to grow at an unprecedented rate.”
“Our new management team is taking a very aggressive stance towards maximizing market opportunities,” said CEO Michael Selim. “Our goal is to be the best furniture provider in North America; we believe this acquisition is another step in that direction.”
About Techcraft Manufacturing (www.Techcraft.net)
Techcraft is a leader in the audio/video, home entertainment, and home furnishings categories under theTechcraft and Paramount brand names, and sells these products to major retailers across North America. Techcraft’s Contract Division is a market leader in design and manufacture of private label (OEM)televisions stands to the consumer electronics industry.
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- Techcraft Manufacturing Inc.
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