Smead Manufacturing Announces a Strategic Investment in U Brands LLC
HASTINGS, Minn., October 2, 2017 (Newswire.com) - Smead, a global leader in office management solutions, is pleased to announce a strategic investment in California-based innovator U Brands LLC.
“Joining forces with U Brands provides Smead a great opportunity to diversify our product portfolio and offer a more comprehensive set of solutions to our existing customer base,” said Casey Avent, President of Smead Manufacturing Company. “It’s an exciting time for Smead as we leverage the power and reputation of our legacy brand while building a new future with a dynamic and progressive partner like U Brands.”
“We’re looking forward to the next chapter at Smead, one that allows us to evolve within our industry while leveraging the 111th year history of our brand,” said Sharon Avent, CEO of Smead. “While we will continue to focus on our dedicated customers and employee base, two of the critical success factors of our business, we are actively identifying new opportunities to help us expand beyond our traditional business lines. We’re confident our investment in this strategic partnership with U Brands LLC will ensure continued growth over the next 100 years as well.”
About Smead: Smead Manufacturing Company, a global leader in office management systems, was established in 1906 in Hastings, Minnesota. Smead is a privately held, certified Women’s Business Enterprise (WBE) offering thousands of organizational products for use in the home or office. For more information on Smead’s high-quality organizational products, including hundreds of products Made in the USA, visit Smead.com.
About U Brands: U Brands LLC is a dynamic consumer products company specializing in a diverse line of stationery, storage, home and office products (dry-erase boards, cork boards, dry-erase calendar boards, dry-erase markers, magnets, locker accessories and more). The company’s pledge is to deliver innovative and creative designs with great quality and value. For more information on U Brands’ high-quality innovative products, visit ubrands.com.
Sunbelt Business Brokers acted as the financial advisor to Smead and B. Riley & Co, LLC acted as the financial advisor to U Brands in connection with the transaction.
Source: Smead Manufacuring Company