Pro Towels Acquires Kanata Blanket Co.
Pro Towels announced yesterday it has acquired supplier Kanata Blanket Company. Terms of the agreement were not disclosed.
With corporate headquarters in Pittsburgh, PA, Pro Towels has manufacturing and decorating facilities located in South Carolina and California and is the largest full-service beach, golf, fitness and rally towel supplier within the promotional products Industry.
"The addition of Kanata Blanket Company enables Pro Towels to become an even more diverse line, complementing our existing products perfectly and offering us an even greater presence in the fourth-quarter gift giving season," said Kevin Nord, president of Pro Towel. "We are now truly a company for all seasons.”
Kanata Blanket Company has supplied premium blankets, décor and lifestyle products in the promotional products industry since 1993. Nord adds, "Kanata’s exceptional reputation within the promotional products industry for innovative products and outstanding service was one of the major factors in our decision to purchase them, mirroring our commitment to exceed customer expectations." Both the Pro Towels and Kanata brands will be maintained.
Fraser Mackay, current president of Kanata Blanket Company, believes that the purchase by Pro Towels will enable each company to better serve their respective customer bases in the U.S. and Canada. “By combining our operational capabilities, product lines and geographic footprints, we will be able to provide excellence in every way to our distributor customers. This will be enhanced by East and West Coast U.S. distribution for faster lead-times, and the Kanata facility in Canada offering the best-selling towels from Pro Towels to the Canadian market.
Mackay will continue to oversee Kanata Blanket Company in Canada as executive vice president, with no changes in operating direction planned as part of the sale. Brian Porter will expand his role as vice president of sales to cover both the USA and Canadian markets. Jessica McKinnon will remain as Canadian sales manager. Sharon Griffith will assume the role of vice president of marketing for both the U.S. and Canada.
Consumer Confidence Drops
U.S. consumer confidence fell this month to the lowest level since September. Analysts attribute the decline to worries about the job market and uncertainty from events in Greece and China. The Conference Board said Tuesday that its index of consumer confidence fell to 90.9 in July from a revised 99.8 in June, representing the lowest level since September’s reading of 89.