Taylor Precision Products, a portfolio company of Centre Partners, said Wednesday that it has acquired Metrokane. No financial terms were disclosed. Based in Reno, Nevada, Metrokane is a provider of wine accessories and barware.
OAK BROOK, Ill.–(BUSINESS WIRE)–Taylor Precision Products, Inc., a pioneer in consumer and professional measurement devices and the leading brand of bath and kitchen scales in the US, announced today the acquisition of Metrokane, Inc., the leading North American marketer of wine accessories and barware, sold primarily under the Rabbit® and Houdini™ brand names.
Metrokane is the company’s second acquisition since their June 2012 buy-out of Taylor by Centre Partners, a New York private equity firm, in conjunction with Rob Kay, who became Executive Chairman. Since Mr. Kay joined Taylor, the company has broadened its product offerings through new product development and strategic acquisitions. The acquisition of Metrokane and a niche bath and kitchen scale brand have now increased Taylor’s revenues by over 50%. Kay commented, “We are extremely excited to be adding the world class brands and products of Metrokane, who created the wine accessory category over the past 15 years. This combination will further enhance Taylor’s capability to offer the most meaningful brands and products to our retail trade partners and builds a strong cornerstone addition to our growing portfolio.”
Taylor will retain the sales, marketing and product design capabilities that have been the hallmark of Metrokane’s success. Said Mr. Kay, “The founders, Riki Kane and Bob Larimer, will remain with the company for a long transition period. We respect what Riki Kane and her team have accomplished and will continue to support their brands, products and innovations in product design and packaging.”
Affirmed Riki Kane, “Rob’s vision for growth makes it clear that Taylor is the right partner for Metrokane, with the resources to take our business to the next level.” Kane founded Metrokane in New York in 1983, starting with a manual citrus juicer she discovered in Mexico. In 2000 the company introduced the Rabbit Corkscrew, the first of more than a hundred wine accessory and barware products that created and now lead the category.
Taylor, based in Oak Brook, Illinois, is the leading North American marketer of consumer and foodservice precision measurement products—including kitchen scales, thermometers, timers, bath scales and outdoor weather measurement products. The company’s owned and licensed brand names include Taylor®, Homedics® and Salter®. With a heritage dating back over 160 years, Taylor serves customers ranging from high-end specialty stores to mass merchandisers, hardware stores, club stores and grocery retailers. Its market leadership is maintained by providing high-quality, attractive products at competitive consumer prices, plus outstanding retail customer service and support. For more information on Taylor, go to www.TaylorUSA.com.
Founded by Riki Kane in 1983, Metrokane, Inc. has become the leading North American marketer of wine accessories and barware—including corkscrews, decanters, aerators, wine preservers, cocktail shakers, citrus juicers and bar tools. Metrokane products have wide distribution. They are sold, primarily under the nationally advertised Rabbit® and Houdini™ brand names, by department stores, big box retailers, discount chains, wine & liquor stores and online merchants. Retailers and consumers look to Metrokane for innovative products and the company continues to deliver year after year—starting with the Original Rabbit corkscrew and more recently with Rabbit Chilling Carafe, Rabbit Electric Cocktail Mixer and Rabbit Electric Wine Preserver. For more information on Metrokane, go to www.metrokane.com.
ABOUT CENTRE PARTNERS
Centre Partners, founded in 1986, is a leading middle-market private equity firm that specializes in making control investments in North American based businesses primarily in the consumer, healthcare and business services industries. Centre Partners seeks to partner with experienced management teams who are passionate about their businesses and have meaningful economic stakes in the future of their companies. Centre Partners has invested over $3 billion in more than 90 transactions and is currently investing through its fifth fund. Additional information is available at www.centrepartners.com.