Cupmaker Whirley Buys DrinkWorks
Drinkware maker Whirley Industries has acquired competitor DrinkWorks, forming the largest supplier of custom-branded stainless, plastic and souvenir drinkware.
 |
| Whirley’s sales staff gets DrinkWorks’ designs (like Elmo, sold at Sesame Place theme park) |
Warren, PA-based Whirley plans to expand its mainstream, primarily plastic line with high-end stainless steel designs from DrinkWorks. Newport Beach, CA-based DrinkWorks lends its strong reputation for design; Whirley brings a substantial sales staff to the deal. They share many customers, including convenience stores, theme parks, restaurants, zoos and sports venues that use branded containers as premiums.
“Gaining the DrinkWorks brand … and well-known design strengths will enable us to generate incremental sales from our existing customers, increase our customer base, and enhance our ability to assist customers in launching … custom product lines,” said Whirley President Lincoln Sokolski in a statement.
Whirley projects the purchase will help boost its revenues 20%, based on DrinkWorks’ 2004 sales jump of 30%. Privately held Whirley won’t disclose sales data; terms of the deal were not disclosed, either.
Whirley gets DrinkWorks’ brand name, assets and intellectual property. DrinkWorks’ president and chief designer Richard Humphrey joins Whirley as VP-business development.
