Hatco Acquires Ovention Inc.

Hatco Corp. has acquired Ovention Inc., the Dallas-based oven technology company. Ovention owns the rights to the Matchbox Oven, recognized earlier this year by the National Restaurant Association with a Kitchen Innovations Award. Ovention was founded by Phil McKee, who also was co-founder of TurboChef Inc“We are very excited about the Ovention technology and its overall industry potential,” said David Rolston, Hatco’s president and CEO. “The Matchbox oven is truly revolutionary and solves many common operator problems. This technology offers excellent growth potential for years to come.

“The focus on delivering customer value through highly innovative products is a natural fit with the way we’ve run our business for over 60 years,” he added.

Hatco has been Ovention’s sole contract manufacturing partner since the second half of 2012. The Milwaukee-based manufacturer says it will operate Ovention as an independent business unit. It has appointed Steve Everett Jr., currently director of business development, as general manager of the Ovention business unit.

“From a market perspective, Ovention’s team will be independent from Hatco’s, which will allow us to dedicate our sales professionals and manage our distribution channel efficiently,” said Rolston. “The synergies provided by leveraging our manufacturing resources will further contribute to Ovention’s and Hatco’s success.”