Hatco Corp. has acquired Ovention Inc., the Dallas-based oven technology company.
Ovention owns the rights to the Matchbox Oven which was recognized earlier this year by the National Restaurant Association (NRA) with a Kitchen Innovations Award.
“We are very excited about the Ovention technology and its overall industry potential. The Matchbox oven is truly revolutionary and solves many common operator problems. This technology offers excellent growth potential for years to come.” said David Rolston, president and CEO, Hatco Corp. “The focus on delivering customer value through highly innovative products is a natural fit with the way we’ve run our business for over 60 years.”
Hatco has been serving as the sole, contract manufacturing partner to Ovention since the second half of 2012. Hatco intends to operate Ovention as an independent business unit supported by a team of dedicated professionals, several of whom will transition with Ovention to Hatco as part of the acquisition. Hatco has appointed current Director of Business Development, Steve Everett, Jr., to the position of general manager of the Ovention business unit.
“From a market perspective, Ovention’s team will be independent from Hatco’s which will allow us to dedicate our sales professionals and manage our distribution channel efficiently. ” said Rolston. “The synergies provided by leveraging our manufacturing resources will further contribute to Ovention’s and Hatco’s success.”
