Trudeau Grows its Brand with Silvermark Acquisition
CHICAGO-Trudeau Corp. has purchased Silvermark, a New York-based supplier of kitchen gadgets and gourmet accessories.
"The fit, culture and timing was perfect for both companies." Philippe Trudeau, president of Trudeau Corporation, told HFN. The acquisition will allow Silvermark's co-founder Michael Silver to "do what he does best -- to create products."
Both companies have complementary product lines and distribution channels, as well as a shared objective to develop products targeting the trends of healthy eating and easier food preparation. The Silvermark line will be folded into Trudeau's line.
"We're a debt-free company," Trudeau said. "We're always looking for businesses to make us stronger."
While other companies might focus on growing its number of brands, Trudeau only wants to focus on its own Trudeau brand, Trudeau said. The Silvermark brand "is not as important as its capabilities and products," so it will be folded into the Trudeau line, he said. And Trudeau will keep Silvermark's New York office, so now Trudeau has roots in that city, he added.
Silver added in a release, "Silvermark was at a stage in its evolution that required that it either build more infrastructure or team up with a company that had the resources to augment its ongoing growth initiatives. Trudeau was an ideal candidate since there is virtually no overlap in our respective product lines and numerous operational efficiencies that will be quickly realized after the acquisition." At Trudeau, Silver will now focus on new product and business development while also maintaining relationships with key suppliers.