Taylor Precision Products Acquires Metrokane
OAK BROOK, Ill.-Taylor Precision Products, whose products include bathroom and kitchen scales, has purchased Metrokane, a marketer of wine accessories and barware sold primarily under the Rabbit and Houdini brand names.
Metrokane is Taylor's second acquisition since it was bought out in June 2012 by Centre Partners, a New York private equity firm, in conjunction with Rob Kay, who became executive chairman. Kay has since has broadened Taylor's product offerings through new product development and strategic acquisitions, the company said, and the acquisition of both Metrokane and a niche bath and kitchen scale brand are expected to increase Taylor's revenues by more than 50 percent.
"We are extremely excited to be adding the world class brands and products of Metrokane, who created the wine accessory category over the past 15 years," said Kay. "This combination will further enhance Taylor's capability to offer the most meaningful brands and products to our retail trade partners and builds a strong cornerstone addition to our growing portfolio."
Metrokane's founders, Riki Kane and Bob Larimer, will remain with the company for a long transition period, according to Kay. "We respect what Riki Kane and her team have accomplished and will continue to support their brands, products and innovations in product design and packaging."
Kane added, "Rob's vision for growth makes it clear that Taylor is the right partner for Metrokane, with the resources to take our business to the next level."
Kane founded Metrokane in New York in 1983, starting with a manual citrus juicer she discovered in Mexico. In 2000, the company introduced the Rabbit Corkscrew, the first of more than a hundred wine accessory and barware products.