The new company, which has not yet been named, will be located in New York, where both companies will continue to independently distribute product lines and maintain their distinct brand selections.
“In such a competitive industry, we determined to forge our own opportunities in order to grow our market share and improve our long-term viability,” said Thomas Reed, Dunkirk president. “By joining forces with The Utica Cos., we’ve significantly expanded our resources and enhanced our overall capabilities, which will allow us to aggressively pursue similar opportunities in the future as part of our overall business strategy.”
Both companies agreed that new products would be added to existing lines once the merger is approved.
“We view our partnership as an opportunity to increase our customer base by solidifying our unique and distinct product lines,” said Tim Reed, president of The Utica Cos. “This combination of forces also will provide us opportunities to identify other companies for mergers and acquisitions that will make us even more competitive.”
Dunkirk and The Utica Cos. were jointly founded in 1928. The two companies shared a cooperative alliance until the 1950s when both became independent businesses.