Tropitone Completes Sale Of Veneman Division
Joint News Release
Irvine, Calif., Nov. 19, 2003 -- Tropitone Furniture Co., Inc., a leading manufacturer of casual furniture, announced today that it has completed the sale of its Westminister, Ca.-based Veneman Division to casual furniture veteran, Bill Markowitz.
According to Michael Echolds, Chief Executive Officer of Tropitone, while the completed sale of Veneman brings a change in ownership, the two companies will continue to have an ongoing relationship with the Veneman product being sold by a mutual sales force.
According to Markowitz, he is eager to build upon the Veneman tradition of design integrity and leadership that has been inspired by some of the most enduring and elegant design themes throughout history. He plans to maintain Veneman's California manufacturing facility and to keep Veneman's highly skilled employees.
"Veneman has a strong legacy of transforming raw materials into unusually artful, yet comfortable, high quality, and easy-to-maintain fine furniture. Such a legacy sets the Veneman Collection apart from much of the "mass market" furniture available to furniture retailers today.
"With our limited distribution market strategy, Veneman creates an attractive opportunity for retailers and showrooms who want to offer their customers a highly distinctive alternative to the more commonplace furniture products seen in the market today. We plan to take advantage of this opportunity with the Veneman Collection," Markowitz said.
Veneman, which Tropitone had acquired in 1998, was founded nearly 30 years ago as a cast aluminum manufacturer. More recently, the range of materials has expanded to include plantation-grown teak as well as all-weather wicker.
Founded in 1954, Tropitone is based in Irvine, California, and is recognized throughout the casual furniture marketplace for its design leadership as well as its commitment to service and value. The company sells its products to retailers, designers and the hospitality trade under the Tropitone and Basta Sole trademarks. In addition to its headquarters and manufacturing plant in Irvine, the company operates a manufacturing facility in Sarasota, Florida.