Prime Tanning & Irving Tanning merge to form largest tannery

16 Aug '07

2 min read

Prime Tanning Co. Inc (Prime) and Irving Tanning Company (Irving) announced the signing of a letter of intent to merge the two companies. Irving operates a 30 million foot capacity side leather finishing operation in Hartland, Maine.

Prime operates a similar size facility in Berwick, Maine, as well as a wet blue tanning operation in St. Joseph, Missouri. Together, the combined entity will be the largest vertically integrated tanning operation in the U.S. with revenues in excess of $225 million.

The companies' finished leather operations have minimal customer overlap, and on a combined basis will have a portfolio of leading footwear and accessory brands that include Born, H. H. Brown, Coach, Cole Haan, Justin Brands, Rocky Brands, SAS, Sofft, Timberland, Wolverine and the U.S. Military.

The combined company will be called Prime Tanning Company and will be led by President and CEO Bob Moore, and Co-Chairmen Mike and Steve Kaplan. Dick Larochelle will become Executive Vice President - International.

Prime's CEO Bob Moore commented: "This merger leverages the synergies and shared potential of both companies. The new Prime will offer its customers an unparalleled R&D platform and enormous capacity and flexibility, combined with a higher level of sales, service and responsiveness. We look forward to the significant benefits that this merger will bring to all of our stakeholders."

Irving's current CEO Dick Larochelle commented: "This is a logical step for our two companies. We are excited to merge our unique competencies with Prime's, while also creating a strong and viable partner to our customers, suppliers and employees. Together, we have enormous potential to improve the standing of U.S. based leather tanneries on the global stage."

Irving Tanning Company

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