States Industries acquires Drawer Box Specialties
States Industries, a manufacturer of hardwood plywood and specialty panel products, acquired California-based Drawer Box Specialties.
Drawer Box Specialties manufactures drawer boxes, drawer storage systems, shelving units and specialty accessories.
The acquisition is a strategic extension of States’ existing value-added components business, according to company president Mike Taylor.
“We are focused on continued growth by integrating toward the end user with an innovative mix of products and solutions,” Taylor said in a statement. “DBS has a great brand franchise that we think will be a perfect complement to our business moving forward.
According to the company, Drawer Box Specialties will maintain most of its management and existing sales team in Southern California and its president, Cathy Blankenship, will continue to manage the business unit for States Industries.
“We are very pleased with the team that is in place and their knowledge of the business,” Taylor said. “By recapitalizing the company and providing better access to the entire North American market through our network of distributors, we see significant upside.”