St Regis Crystal Acquires R.S. Owens
Financial Terms Of The Asset-Based Transaction Were Not Released
Indianapolis-based supplier St Regis Crystal (asi/84592) announced on Friday that it has agreed to acquire fellow awards supplier R.S. Owens (asi/75530). Financial terms of the asset-based transaction were not released, but the companies said they expect the deal to be effective as of December 17.
"This acquisition presents tremendous opportunities," says Richard Firkser, president & CEO of St Regis Crystal. "R.S. Owens has spent 75 successful years developing its creative, innovative and technical skills. St Regis complements these skills with superior customer service, huge production capacity, and the structural and financial backbone to really grow."
R.S. Owens, which is the maker of the Oscar and Emmy awards, will continue to manufacture its products at its current location in Chicago. Decorating & fulfillment of R.S. Owens' catalog items will be done out of the St Regis Indianapolis facility. Also as part of this deal, which makes R.S. Owens a division of St Regis, St Regis will introduce the R.S. Owens line of products in Canada, fulfilled from the St Regis Toronto facility.
"We are excited to soon be part of the St Regis Group" says Scott Siegel, president of R.S. Owens. "The opportunity to combine St Regis' strengths with R.S. Owens' creative design capabilities, U.S.-based manufacturing and reputation for exceptional quality will provide unprecedented growth opportunity."
R.S. Owens will be celebrating its 75th anniversary in 2013. St Regis Crystal was founded in 1999, and the company has closed multiple acquisitions over the past couple of years, making it the parent supplier to the following brands: Etching Industries (asi/52770), Martin Company (asi/68915), Mi Pen Company (asi/71033), Prestige Glass (asi/79403), and Waterleaf Studios (asi/95651).