Royal Industries Acquires Waldor Products
Financial Terms Were Not Disclosed
Brooklyn-based Royal Industries (asi/83770) has acquired Waldor Products (asi/94770), the companies have announced. Financial terms of the deal, made public on March 12, were not disclosed. Both Royal and Waldor will maintain separate names and ASI numbers following the transaction.
“The acquisition of the Waldor Line is the perfect complement to Royal’s line,” said Ari Ruden, vice president of Royal Industries. “We are very excited to add the unique products that the Waldor Line has to offer to the promotional product industry. Our plan is to grow the Waldor Line with new item offerings as well as new enhanced services.”
According to Ruden, Royal has offered positions to all Waldor employees in an effort to ease the transition and grow the line. In the short term, Waldor’s New Jersey facility will remain open, but eventually all Waldor manufacturing and customer service operations will move to Royal’s Brooklyn site. Stephen Spiegel, Waldor’s CEO, plans to retire after the transition to Brooklyn is completed.
“Both Royal and Waldor have been friendly competitors for decades, and just as Waldor is a leader in pocket and purse items for the industry, Royal holds the same esteem in vinyl products,” said Spiegel. “It was just a great matchup. I know my customers will get unmatched quality and services from Royal.”
Effective immediately, all Waldor orders and requests should be directed to Royal’s headquarters in Brooklyn. “Both companies have been in a growth trajectory and by combining the two lines under the Royal banner we see this as a win-win for us and our customer base,” Ruden said. “There is a great level of excitement.”