Velcro Companies Announces Strategic Partnership with STAYHOLD™ Ltd.
BOSTON, Nov. 16, 2016 /PRNewswire/ -- Velcro Companies, the leading independent company in the global fastening industry, today announced it has established a partnership with STAYHOLD Ltd., a leader in anti-movement and storage solutions for consumers on the go.
Velcro Companies has agreed to make a financial investment in STAYHOLD and will be its exclusive distribution partner immediately in the UK, Australia and New Zealand and by the end of the year in the US and Latin America. Financial terms were not disclosed.
Fraser Cameron, CEO of Velcro Companies, said: "This agreement reflects our commitment to create a powerful global consumer business by developing new products and leveraging the strong consumer awareness of the VELCRO® brand. With a heritage of innovation and a passion for great product design, STAYHOLD is an ideal partner to help us realize this goal."
Mark Sater, Vice President of Strategic Execution for Velcro Companies, said: "We look forward to working with STAYHOLD to bring its products into new markets and to integrate VELCRO® brand technologies in a wide range of applications. STAYHOLD'S skills, knowledge and technical expertise in product development complement our own, and together we will be able to create products that consumers truly value."
STAYHOLD cargo organization products are made possible by Velcro® Brand technology using micro hook material to stick to the carpet surface in car interiors and act as removable modular walls that stop loose items from moving around and getting damaged. Today, STAYHOLD products are sold in more than 20 countries.
Through Velcro Companies' distribution network, STAYHOLD products are now available in major retailers in the United Kingdom, Ireland, Australia and New Zealand and have been launched on Amazon in the UK. STAYHOLD and Velcro Companies debuted their partnership at the Specialty Equipment Market Association (SEMA) annual convention, the premier automotive specialty products trade event, on November 1 in Las Vegas.
For more information on STAYHOLD, please visit: www.stayhold.com.
About Velcro Companies:
Velcro Companies is a technology-driven, global organization providing fastening solutions that solve problems in simple, elegant and surprising ways for businesses and consumers around the world. We have a heritage of innovation spanning more than 50 years and own over 400 active patents and numerous trademarks, including the VELCRO® trademark, which is registered throughout the world. We develop and deliver solutions for customers through an integrated production and service system that includes manufacturing locations in the United States, Belgium, Canada, Mexico, Uruguay, Spain and China and sales offices around the world. To buy genuine VELCRO® brand products and to find out more about our company, visit www.velcro.com.
Note to editors:
At Velcro Companies, we are proud that VELCRO® brand products have become a part of everyday life, but that ubiquity sometimes produces confusion. The VELCRO® trademark should be used only when referring to genuine VELCRO® brand fasteners. Non-VELCRO® brand products should be identified by their functional terms, such as "hook and loop," "self-adhesive straps," and so forth. The VELCRO® mark should always be used as an adjective and never as a noun or a verb. The term "Velcro Companies" should be used when referring to our company and its executives.
The proper use of the VELCRO® trademark assists us in safeguarding the integrity of the VELCRO® brand, and helps to protect consumers from products incorrectly sold as VELCRO® brand products. For further information on the proper use of the VELCRO® trademark, please see the guidelines on our website.
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SOURCE Velcro Companies
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