More from the Press Release:
Effective August 1, 2011, the Wenger Corporation, based in Owatonna, MN signed an agreement to acquire J.R. Clancy, Inc. based in Syracuse, NY.
This is exciting news for employees and business partners of both companies. The Wenger Corporation and J.R. Clancy are long standing privately owned businesses with shared values, dedicated and loyal employees, great brands, strong heritages, and great reputations in the market place.
It is our intent to operate these companies as complementary businesses. J.R. Clancy, led by Bob Theis and Mike Murphy, will remain J.R. Clancy. Wenger, led by Bill Beer, will remain Wenger. The headquarters of J.R. Clancy will remain in Syracuse and the headquarters for Wenger will remain in Owatonna.
Clearly, we anticipate that each business will benefit in the form of increased sales, broader depth and breadth of products, development of new markets, shared leverage and resources, and shared best practices. We are excited about joining these two great companies. This is a great transaction for both companies. Even more importantly, it is a great transaction for the employees of both companies!