Plymold Parent To Acquire Waymar Cos.

Foldcraft Co., the parent company for the Plymold brand furniture, has signed a letter of intent to acquire Waymar Cos., a maker of the Waymar and JH Carr furniture lines. Plymold products are commonly spec’d in quick-service facilities, while Waymar’s brands are mostly seen in more upscale operations such as Applebee’s and P.F. Chang’s.

Plymold makes its headquarters in Kenyon, Minn., and manufactures products in Bloomington, Minn.; it also runs a custom millwork facility, WB Powell, in Corona.  Its parent, Foldcraft, is 100% employee owned.

In a joint statement, Foldcraft Chairman and CEO Charles Mayhew and Waymar CEO Bill Ziegler said that the combined capabilities of Plymold and Waymar will give Foldcraft the ability to match customers’ needs across a broad spectrum of the foodservice and hospitality industries.

Plymold Pres. Dan Ruedinger said the acquisition supports Foldcraft’s long-term goal to strategically align itself and its brands to the demands of the marketplace, no matter the type of venue or customers they serve.

Ruedinger added that Plymold will move its Bloomington offices and manufacturing south on I-35 to Waymar’s Burnsville, Minn., headquarters.  An October 12 closing date has been targeted.