The Beadery Acquires Assets of Quality Bead Craft Inc.
HOPE VALLEY, R.I., June 29, 2017 – The Beadery, a company of the Toner Plastics Group, East Longmeadow, Mass., has acquired the assets of Quality Bead Craft Inc., Bloomfield, Conn., a leading U.S. plastic bead manufacturer. The Beadery purchased Quality Bead Craft’s existing finished goods inventory, injection molds, and customer list. Financial terms of the June 23 transaction were not disclosed.
Quality Bead Craft has been a U.S. supplier of high-quality plastic bead products utilizing multi-cavity production since 1985. “We’re pleased to acquire the assets of Quality Bead Craft and their library of molds,” said Joseph Ritacco, general manager of The Beadery. “We look forward to meeting the needs of the U.S. plastic bead market and serving the new combined customer base.”
“Even as competitors we’ve had a good working relationship over the years,” said Rick Hillier, vice president of Quality Bead Craft Inc. “We’re totally confident in the ability of The Beadery to meet the needs of our former customers.”
Both companies are working together to undertake a smooth transition of current Quality Bead Craft customers to The Beadery.