Waymar Companies Acquired
Posted on October 24, 2012
Foldcraft, an employee owned furniture manufacturer buys Waymar Companies. Purchase expands Foldcraft brand portfolio’s exposure in the high-end foodservice furnishing market.
BLOOMINGTON, Minnesota — October 24, 2012
Foldcraft announced today it has purchased the assets of commercial furniture manufacturer, Waymar and its subsidiary, JH Carr. The acquisition positions Foldcraft to serve a broader range of customers in the Foodservice industry.
“Customers of our brands will benefit from improved manufacturing efficiencies and expanded capabilities,” said Dan Ruedinger, Foldcraft’s President. “We are anxious to re-energize the commercial furniture market bringing new options and better service to our existing and future customers.”
According to Chairmen and CEO, Charles G. Mayhew, “The acquisition signals the continued growth of the Foldcraft brand portfolio and will go a long way to building shareholder value.”
Plymold (www.plymold.com) is positioned to serve quick-service restaurant customers including Dairy Queen, Subway and Panera Bread, while the WB Powell (www.wbpowell.com) brand proudly serves prominent top-tier hospitality clients including Hyatt, Four Seasons, and Disney. The addition of Waymar (www.waymar.com) and JH Carr (www.jhcarr.com) helps to close a service gap by bringing personalized products demanded by high end hospitality outlets to the Foldcraft brand portfolio. Simultaneously the acquisition adds respected clients including P.F. Chang’s, Johnny Rocket’s, Crave and an expanding group of developing brands including those of Blue Plate Restaurant Group to the client roster.
Foldcraft’s Bloomington, Minn. operation, which includes custom millwork and stainless steel fabrication as well as its corporate headquarters will be consolidated to the new Burnsville, Minn. location. Foldcraft will continue to operate manufacturing facilities in Kenyon, Minn., Kent, Wash., and Corona, Calif..
“Our strategic plan is to continue to strengthen our national presence and ability to deliver on customer demands through additional regionally based manufacturing facilities,” said Ruedinger.
Marketing Manager, Foldcraft