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St Regis Crystal Acquires Prestige Glass
Vol. 819
May 26, 2011
Completing its second
acquisition in the last 13 months, St Regis Crystal (asi/84595) has purchased
fellow Canadian supplier Prestige Glass International (asi/79398). Financial
terms of the agreement, which was finalized last week, have not been disclosed.
"We're headed toward a custom line of awards and they're the leaders in
the Canadian market," said Jeff Firkser, vice
president of sales for St Regis, in an interview with Counselor. "There's
so much synergy between our companies and both will benefit through this
deal."
Under the terms of the
agreement, St Regis and Prestige will continue to maintain separate brands,
with current contact information and ASI numbers remaining unchanged. According to Firkser,
Prestige President Robert Jackson is leaving the industry to pursue other
interests. Otherwise, the full staff at Prestige, including management, will
stay in place. Scott Jackson has been named general manager of Prestige and Tom
Guitard will serve as national sales manager.
"Having a local North American manufacturing facility within the St Regis
Group provides many opportunities for us to support our distributor network,
where lead times are continually getting shorter and shorter," Firkser said.
Founded in 1995, Prestige
manufactures custom awards using glass, stone, aluminum and other materials.
Established in 1999, St Regis supplies awards, recognition products and
corporate gifts. In April of last year, St Regis acquired Texas-based supplier
The Martin Company (asi/68915). St Regis Group also includes Etching Industries
(asi/52770) and St Regis USA (asi/84592). |