Drinkware manufacturer and designer Thermo-Serv Ltd. of Dallas will nearly triple its business with the acquisition of the plastic drinkware line of Aladdin Industries LLC for an undisclosed price.
The agreement is to close in early February, according to Thermo-Serve President Nathan Long. Thermo-Serv will gain U.S. trademark rights for Aladdin-brand plastic insulation products and beverage wares, including mugs, tumblers and coolers.
Thermo-Serv will not take possession of the manufacturing facilities in Nashville, Tenn., but will take the trademark and unspecified inventory. Aladdin has 49 injection molding machines, and Thermo-Serv is expected to take most of them. Thermo-Serv plans to shift production from Nashville to Dallas over six to eight months and change its name to Thermo-Serv/Aladdin.
``It triples the size of our business and we're looking to hire about 80-120 people,'' Long said in a telephone interview. He added that the company is interviewing Aladdin personnel who would consider the move to Dallas. ``We will be the largest double-wall drinkware manufacturer in the U.S.,'' he said.
Thermo-Serv employs 100-150, depending on the season, he noted. The company operates out of a 130,000-square-foot facility, but plans to push that to 200,000 square feet. The firm splits its market between retail and specialty. Thermo-Serv, which is owned by a holding company, Phoenix Partners Inc., has been in business since 1952.
Only a shell of Aladdin Industries will remain. Earlier this year, the firm sold off its Stanley Bottle division to Pacific Market International in Seattle. Aladdin retains the buildings, some operations in the United Kingdom and Australia and some real estate in the Nashville area.
Aladdin has been around since 1913, when it introduced the first steel vacuum-insulated Stanley Bottle.
``We have many people who have 20 years of service,'' said Lillian Jenkins, vice president of human resources and a 52-year employee. ``It seems like family. Aladdin has always had great equipment and wonderful benefits.''
However, she added: ``We just can't compete when the Wal-Marts can go to China and get the same product cheaper.''
High labor costs, Jenkins said, are a key reason why the union company sold its U.S. rights to Thermo-Serv, which is nonunion.