Cornwell Quality Tools acquires Kennedy Mfg.
Kennedy Manufacturing Company has been acquired by the Cornwell Quality Tools Company, a privately-owned company based out of Wadsworth, Ohio.
Cornwell recently acquired the business assets of KMC Holdings LLC from JVA Partners, LLC. KMC Holdings LLC includes the Kennedy Manufacturing Company in Van Wert that has been manufacturing iconic toolboxes for more than 100 years.
Currently the manufacturing facility employs around 95 employees. With the addition of the Cornwell line, more people will be needed to keep up with demand, providing more jobs and growth to the community.
“Our team is excited about the opportunity and what this means for Kennedy, the Van Wert community as well as the state of Ohio,” said Bryan Yourdon, president of Kennedy Manufacturing Company.
The acquisition will bring additional tool storage production to the Kennedy Manufacturing Company facility in Van Wert.
Cornwell will use Kennedy’s manufacturing and design expertise to support its nationwide network of franchised Cornwell Tool Dealers with new and exciting product.
“Working with Kennedy in the past assured Cornwell that Kennedy would be the perfect fit. Our companies share so many similarities in terms of values, design, culture and customer service beliefs,” said Bob Studenic, president of Cornwell Quality Tools. “We plan on servicing both Kennedy and Cornwell branded products as well as investing in strategic machinery to keep production running at maximum efficiency.”