Syratech Corp. of Massachusetts has acquired American Cut Crystal, an imorter of crystal based in New York, according to a recent report.
In a deal finalized in late January, Syratech purchased the …
Syratech Corp. of Massachusetts has acquired American Cut Crystal, an imorter of crystal based in New York, according to a recent report. In a deal finalized in late January, Syratech purchased the company for an undisclosed amount from Marvin Wolf, owner and president of American Cut Crystal, who is retiring. American Cut Crystal products, which include crystal giftware and limited edition pieces, will be incorporated into one of Syratech“s divisions, such as Wallace or Towle Silversmiths, or International Silver, according to Leonard Florence, CEO of Syratech. Syratech will also acquire three American Cut Crystal showrooms, in Atlanta, Dallas and Seattle. Members of American Cut Crystal“s staff may join Syratech. “It“s a fine acquisition, a small one, but a quality one that will put us into areas that we have not been in in the past,” said Florence. American Cut Crystal, which has been in business since 1937, sells thousands of accounts in the US, said Wolf, including furniture and jewellery stores, specialty and gift stores, mail order and catalogue houses, and department stores such as Neiman Marcus and Gump“s.