A maker of wooden gaming tables and furniture has acquired Pennsylvania-based solid wood furniture maker Keystone.
Wyrmwood, a gaming furniture specialist, laid off all of its employees and nearly went out of business as the pandemic struck back in March. It was then saved by a Kickstarter campaign, which brought in more than 7,700 orders and raised $8.4 million.
It was able to hire back all of its 70 employees as well as acquire Keystone, who employs 50 at its 57,000-square-foot plant in Pennsylvania. Terms of the deal were not disclosed.
Wyrmwood CEO Douglas Costello says the acquisition will greatly expand the company's manufacturing capacity. The companies have a history together, as Keystone has been building chairs for Wyrmwood for the past three years.
Costello believes the companies' shared expertise - Keystone's manufacturing skill and Wyrmwood's powerful marketing and social media presence - a strong balance.
Keystone will continue to manufacture its furniture lines.
Wyrmwood primarily manufactures high-end gaming tables from a variety of wood types, including cherry, maplbe, black walnut, padauk, wenge, and purpleheart. Totally customizable, each table ranges in price from $300 to $10,000. Wait times are well into 2022.
The company's attention for quality and its reputation and fame within the tabletop gaming community played a role in the success of the campaign. Wyrmwood puts a lot of effort into its social media presence, amassing 133,000 Instagram followers and millions of YouTube views. Multiple nicely-edited videos are uploaded to YouTube every week, each quickly garnering tens of thousands of views.
News Writer : Çetin KAYA
508 viewed times. / 15-11-2020 added.
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