ST. AUGUSTINE, FL - Outdoor casual furniture supplier Brown Jordan International Inc. has acquired the outstanding equity interests of Tropitone Furniture Co. Inc., a competing manufacturer and seller of outdoor furniture.
The acquisition, announced Sept. 15, combines the two casual furniture providers into one company with nearly $400 million in net sales. The combined company will be headquartered in St. Augustine, FL, while maintaining manufacturing, design and administrative operations in six U.S. states along with Juarez, Mexico.
"We have long admired Tropitone's capabilities in the hospitality and specialty retail sectors and are excited for the opportunity to leverage the strengths of our complementary customer relationships, product lines, and production and sourcing capabilities," said Gene Moriarty, Brown Jordan's president and CEO.
Cap Hendrix, Tropitone CEO, added, "The combination of Tropitone and Brown Jordan brings together the two industry leaders with strengths that are entirely complementary to one another. Under Gene Moriarty, the combination creates the foundation of a brilliant future for both companies."
Tropitone has been in business for 60 years, while Brown Jordan is marking its 70th anniversary. Founded in 1945, Brown Jordan claims the distinction of being the first company to create furniture for full-time outdoor use. Its furniture products and accessories are now marketed under the brands: Brown Jordan, Tropitone, Winston, Texacraft, Charter, Wabash Valley and Urbanscape. It also supplies licensed brands including La-Z-Boy Outdoor, as well as customer brands.
Prior to the acquisition by Brown Jordan, Tropitone was owned by a group of investors led by Pfingsten Partners. Both companies will be presenting their 2015 lines at the International Casual Furnishings Association Casual Market at the Merchandise Mart in Chicago from September 16-19, 2014.
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