Indiana Glass & Brody Purchased

[CHR]

Indiana Glass and E.O. Brody to combine and be sold under the Anchor Hocking brand.

Anchor Hocking’s parent company buys two companies, plans to merge businesses with Anchor

LANCASTER — Monomoy Capital Partners L.P. has acquired the Indiana Glass Company and E.O. Brody Company from the Lancaster Colony Corp., according to a press release at Monomoy’s Web site.

Monomoy, a private equity fund based in New York, is the parent company of Anchor Hocking.
Lancaster Colony Corp. is the former parent company of Lancaster Glass. Lancaster Colony Corp. shut down the Lancaster Glass facility this past summer.

Monomoy will merge Indiana Glass and E.O. Brody into The Anchor Hocking, to create a leading supplier of retail, specialty and floral glassware, according to the press release.

Indiana Glass manufactures tabletop and decorative glassware containers for the retail, private label, candle and floral markets. E.O. Brody markets and distributes vases made by Indiana Glass to wholesale florists, large floral buying groups and flower shops, according to the press release.
The two companies employ approximately 450 people at facilities in Oklahoma, Indiana and Ohio.

Anchor Hocking has long been considered a consumer brand. Interesting they would give up the name recognition in the floral industry.

Wonder how long it will take for wholesale prices to be effected.

 

[Joe Mioux]

just more horizontal integration.

joe

 

[RJD]

I wonder if there would be a premium for Anchor Hocking branded vases? I think the largest growth segment for vases is DIY home decor--Joanne's, Michael's, Pier 1, etc. These acquisitions leverage their name recognition in a new market segment without needing to develop new products and supply chains.