17792 Mon, 02/01/2010 - 1:51pm
NEW YORK–Vertex Capital Management has completed a purchase of the intellectual property of Cord Crafts, a manufacturer of botanical products.
According to Larry Nusbaum, Vertex’s chief operating officer, the purchase price was “less than half a million dollars.” The Cord Crafts brand has been added to the line of Fitz and Floyd, another Vertex holding. Fitz and Floyd’s president and chief executive officer, Steven Baram, said Cord Craft has been positioned under the Fitz and Floyd Botanicals brand.
“We felt the combination of botanicals is a perfect fit (for Fitz and Floyd) and will allow us not only to offer a wider range to our current customer base, but also allow us to penetrate new channels that otherwise may not have been Fitz and Floyd customers,” Baram said.
Vertex Capital also owns Ronco, the housewares manufacturer.