R. Peter Gunshor, the retiring CEO of Pedre Promotional Products (asi/76675), has sold the assets and intellectual property of both Pedre Promotional and Pedre Watch Company, Inc., to Anthony Farello. Based in Hicksville, NY, the new entity will be called The Pedre Collection LLC and will maintain the company's prior phone numbers, e-mail addresses, and website. Financial terms of the deal were not disclosed.
“The Pedre brand has been in my family for seventy years,” said Gunshor. “I am very proud that the brand will continue to thrive under the leadership of Anthony Farello at The Pedre Collection LLC. I wish him and his exceptional team all the best.”
Farello assumes control of Pedre after most recently serving as the supplier firm’s president. Joining Farello at The Pedre Collection will be Jill Kiviat, former president of Pedre Watch Company and Steve Padaetz, former vice president of sales at Pedre Promotional Products. “I wish Peter a long and happy retirement and thank him for his creativity and vision in developing the Pedre legacy,” Farello said. “I am excited to start the new entity, and to move to our updated facilities on Long Island. This move will enable us to better serve our expanding worldwide customer base.”
In addition to the Pedre brand, The Pedre Collection includes leading styles from Citizen, Movado, Tag Heuer, Bulova, and Lacoste.