A maker of wooden gaming tables and furniture has acquired Pennsylvania-based solid wood furniture maker Keystone.
Wyrmwood, a gaming furniture specialist, laid off all of its employees and nearly went out of business as the pandemic struck back in March. It was then saved by a Kickstarter campaign, which brought in more than 7,700 orders and raised $8.4 million.
It was able to hire back all of its 70 employees as well as acquire Keystone, who employs 50 at its 57,000-square-foot plant in Pennsylvania. Terms of the deal were not disclosed.
Wyrmwood CEO Douglas Costello says the acquisition will greatly expand the company's manufacturing capacity. The companies have a history together, as Keystone has been building chairs for Wyrmwood for the past three years.
Costello believes the companies' shared expertise - Keystone's manufacturing skill and Wyrmwood's powerful marketing and social media presence - create a strong balance.
Keystone will continue to manufacture its furniture lines.
Wyrmwood primarily manufactures high-end gaming tables from a variety of wood types, including cherry, maplbe, black walnut, padauk, wenge, and purpleheart. Totally customizable, each table ranges in price from $300 to $10,000. Wait times are well into 2022.
Wyrmwood's crowdfunding campaign, which we wrote about last month, was the second-most successful tabletop gaming campaign on Kickstarter for all of 2020.
The company's attention for quality and its reputation and fame within the tabletop gaming community played a role in the success of the campaign. Wyrmwood puts a lot of effort into its social media presence, amassing 133,000 Instagram followers and millions of YouTube views. Multiple videos are uploaded to YouTube every week, each quickly garnering tens of thousands of views.
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