Arista Acquires Housewares Company
New York-based supplier Arista Manufacturing (asi/36746) has acquired housewares maker Spring Mill Corporation. According to Arista executives, the move is the start of what could be a wave of acquisitions. “We are actively looking for promotional products suppliers to acquire immediately,” says Jo Ann Linden, president of Arista Manufacturing. “We’re still kind of the new kids on the block, so picking up a company that’s already part of the industry would be beneficial.”
While Arista Enterprises was founded 40 years ago, it only launched its promotional products division, Arista Manufacturing, in January 2008. Linden expects 2008 ad specialties revenues at the company to reach at least $750,000. Arista will add Spring Mill’s line of kitchen gadgets to its series of “Open Smart” products. Spring Mill’s featured product is a jar opener called JarPop. The company’s customers include Bed Bath & Beyond, The Container Store and Ace Hardware. Linden says Arista was in talks with Spring Mill for several months. She would not comment on what the acquisition will mean for Spring Mill employees.