Henny Penny, a provider of foodservice equipment solutions, announced Monday that it will acquire Wood Stone Corporation, a manufacturer of stone hearth cooking equipment. Their combined reach will strengthen each brand and expand the global footprint and opportunity for market differentiation, Steve Cobb, chairman and CEO of Henny Penny, said in a company press release.
"Wood Stone is one of the most highly respected brands in the foodservice equipment industry, and we're big fans of the company's products and its business philosophy and culture," he said. "The two companies possess unique capabilities, yet have similar backbones; we're both employee-centric organizations that grew through innovation and commitment to customer-driven solutions."
Keith Carpenter, co-founder of Wood Stone, said the company never considered selling Wood Stone until meeting with Henny Penny.
"While our similarities are many, we're convinced that our differences in scale, market reach and product technology can enhance the offerings and service we provide to our diverse customers and increase opportunities for our employees to learn and grow in this industry. This is an exciting time for Wood Stone; made even more so now with Henny Penny," he said.
The transaction is expected to close in the coming weeks.
Wood Stone remains a privately held company and will continue to operate and manufacture out of its facility in Bellingham, Wash.
"With Henny Penny, Wood Stone will be able to innovate and grow without compromising its brand, core values and niche product offerings," said Wood Stone president Kurt Eickmeyer. "We're excited for what the future holds."
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