Kewaskum-based Regal Ware Inc. has acquired Vancouver, Canada-based ESPRO. The transaction closed April 3 for an undisclosed price.
Regal Ware, which has about 300 employees, manufactures stainless steel and cast aluminum cookware, which is distributed internationally under the Saladmaster, Kitchen Fair, Lifetime, Classica and Royal Queen brands.
ESPRO, a startup with 13 employees, manufactures premium coffee and tea presses and accessories. Acquiring the company provides Regal Ware with a premium beverage brand, and ESPRO with an influx of capital so it can execute its growth strategy. Regal Ware plans to retain all its employees at its existing location.
"We’re planning on growing the business. ESPRO is a startup company, very new, and what we bring to the deal with them is a steady parent and a good capital structure," said Jeff Reigle, president and chief executive officer of Regal Ware. "That capital structure allows them to move forward on their product development agenda and having enough inventory to take care of their customers.”
Through the transaction, ESPRO will become a division of Regal Ware and continue operating in Vancouver under the ESPRO name. Founders Bruce Constantine and Chris McLean will remain with the business, Constantine as president and McLean as senior product development engineer.
“ESPRO remains committed to elevating the coffee and tea experience with advanced technology and premium quality. Joining the Regal Ware family will allow us to move our technology agenda forward a lot faster,” said Bruce Constantine, president of ESPRO.
In the past, Regal Ware was a very large player in the mass market percolator and drip coffee maker business, but it sold off its small appliance business in 1999, Reigle said. It does not currently have a coffee offering.
“We are pleased to add the ESPRO line of premium coffee and tea presses and accessories to our portfolio of brands, enhancing our line of innovative kitchen products,” he said. “Our cookware is crafted to provide superior results in the kitchen and make cooking more enjoyable; ESPRO will complement this by bringing the best cup of coffee and tea to every table.”