Cambridge Silversmiths Acquires Thirstystone
PINE BROOK, N.J.-Flatware maker Cambridge Silversmiths has acquired Thirstystone Resources, a manufacturer of coasters and decorative home entertainment products, for an undisclosed amount.
Thirstystone will continue to function independently from its Gainesville, Texas headquarters as a separate division of Cambridge Silversmiths.
Roger Freeman, founder and owner of Cambridge, said, "I am extremely enthusiastic about this acquisition because Cambridge represents five generations of skill, expertise, and devotion to the craft, and Thirstystone is a proven, innovative industry leader. This means great potential for both companies to expand and benefit from the success we have built independently. I have been looking for the right acquisition for a long time," he continued, "and Thirstystone is a perfect fit for our long term goals. I am confident that it will be a most exciting adventure to build both brands."
Cambridge Silversmiths markets more than 250 different flatware designs in every price category, including 18-8, 18-10, and forged stainless-steel products. The company also acts as a licensee for Robert Welch Designs, Farberware and Fiesta and has an extensive private label program.
Known for its sandstone coasters, Thirstystone in recent years has expanded into the home entertainment category with a focus on serveware and barware. It offers licensed product from such HGTV star David Bromstad and The Food Network, among others. Thirstystone President Laurie Leahy said, "This acquisition is a wonderful opportunity for our company, providing us with new resources available to us under the Cambridge umbrella which will propel us forward into new markets. Together, we will create collections that will celebrate home entertainment and exciting design, while maintaining both companies' long term commitment to quality, customer service, and unique product." She added, "I believe we can take the home entertainment category by storm."