Meco Corp. has announced it acquired Stakmore, manufacturer of wood folding furniture, in a transaction that closed on May 30. Meco stated that it expects the acquisition to give the company a stronger position in the folding furniture industry and to provide its customers with a broader line of options that better serve the consumer market.
Headquartered in Owego, NY, Stakmore has manufactured a unique line of wood folding products since 1922. The same basic folding mechanisms designed and patented by Stakmore’s founders remains the basis for all the folding chairs and tables produced today, Meco pointed out.
The Stakmore product line will complement Meco’s portfolio of steel folding furniture for the commercial and residential market. Meco noted that all operations and distribution of Stakmore products will move to Greeneville, TN, but, in the shift, will maintain the same level of quality, service and delivery.
“This acquisition is key to our growth strategy,” Mark Proffitt, Meco president, said in announcing the acquisition. “The purchase of Stakmore allows us to achieve diversity for our customer because it gives our customer an option of steel and wood folding furniture under the same umbrella of one vendor, allowing us to better serve our retail customer.”