Precision Products Acquires Signature Tumblers
Precision Products, LLC, which does business as Freeheart Drinkware and supplier COVO Thermal Insulated Drinkware (PPAI 651939) has acquired Hopkins, Minnesota-based Signature Tumblers. Signature Tumblers has operated in the double-walled drinkware category for more than 20 years, and is a strong and established player in the collegiate licensed product market and has hundreds of universities in its portfolio.
"We have a proven track record of accelerating the growth of businesses that we acquire and in operating our family of companies,” says Jack Walters III, chairman of Precision Products LLC. “Signature
Tumblers’ reputation in the market for quality, reliability and outstanding customer service will not only
improve our top-line revenue and growth opportunity, but by integrating the brand into our portfolio it will reshape our company to deliver exponential value creation for our wholesale customers.”
John Walters IV will serve as CEO and Rainer Kuhn will serve as president of the combined company. The merger will be completed this year, with headquarters located in Precision Products’ home, Sarasota, Florida. The Signature Tumblers brand of products will be folded in under the Freeheart brand.
“This acquisition strengthens our product portfolio, adds to our channel presence in specialty gift and
select regional/national retailers, plus it brings additive channel coverage in the golf pro shop channel,” says Kuhn. “We will apply our creative product design capabilities, go-to-market expertise and in-house vertically integrated end-to-end manufacturing capabilities to further scale both businesses’ already strong performance.”