site stats
Paderno company being sold, but ‘business as usual’ for PEI |

Paderno company being sold, but ‘business as usual’ for PEI

The P.E.I.-based company that makes Paderno pots is being sold, but company president Tim Casey says it will “business as usual” on the Island.

“All our employees, there’s no change for our P.E.I. operations,” said Tim Casey, president of Padinox.

Canadian Tire has announced it plans to purchase Padinox, the company that owns the Canadian rights to the Paderno brand.

Paderno’s maunfacturing plant and distribution centre have been on P.E.I. for more than 38 years. (Pat Martel/CBC)

As part of the transaction, the manufacturing and wholesale distribution operations of Padinox are being sold to Meyer Canada. Meyer is the largest distributor of cookware and related kitchen products in North America, and the second largest cookware manufacturer globally.

On P.E.I. for 38 years

Casey said Meyer will operate the Paderno factory and distribution centre, which has been on P.E.I. for more than 38 years.

Meyer executives met with Paderno staff on Wednesday, Casey said.

‘All the jobs are staying here, and they’ve got some big plans.’
– Tim Casey, president of Padinox

“All the jobs are staying here, and they’ve got some big plans,” Casey said. “Canadian Tire is a great retailer, and Meyer is good at the manufacturing and distribution side of it. It’s a win-win.”

In a news release, Evan Feldman, president and CEO of Meyer Canada, said the Paderno acquisition “is a natural extension of our global operations and provides us with new avenues for growth.”

“With a strong portfolio of retail customers and the strategic partnership of Canadian Tire, we are positioned well to grow our business and further invest in the P.E.I. operations,”  he said.

‘Competitive edge’

In a separate news release, Allan MacDonald, president of Canadian Tire Retail, said Paderno fits with the company’s  business acumen of using “exclusive brands with a pipeline of well-designed and innovative products.”

“Owning our own brands provides us with a competitive edge and we are thrilled to add Paderno to our portfolio of world-class brands,” he said.

Canadian Tire said it will provide more details at its annual general meeting of shareholders Thursday in Toronto.

See how pots and pans are made in Paderno’s P.E.I. factory0:55

Category: Cookware Pots  Tags: ,  Comments off
You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Comments are closed.