Cobourg, Ont.-based custom molder Protoplast Inc. has purchased consumer product maker ET Industries, which is headquartered in Toronto.
The terms of the deal have not been disclosed.
The purchase gives Protoplast its first line of proprietary consumer products, including such kitchen and bath items as sink stoppers, sprayers, and shower heads.
“ET Industries had been a customer of ours – we were molding a number of products they were using in their assemblies,” Patricia Hart, Protoplast's manager of inside sales and purchasing, told Canadian Plastics. “Their consumer products are sold at Bed, Bath & Beyond stores, online through the ET Industries’ website, and in catalogues.”
Protoplast bought ET Industries from previous owner Martin Tracy, who remains with the business and now handles Protoplast’s sales of the ET product line.
The purchase helps diversify Protoplast, a family-owned company with 16 presses that also serves the automotive, electronics, and medical markets.
“It’s the first time that we’ve ever dealt directly with the end consumer,” Hart said. “We’ve never been in the retail industry before, and we now have that opportunity.”