Vermont Tubbs Under New Ownership

June 3, 2008  by in UnCategorized   

By Home Furnishings Business in Case Goods on June 2008 Kyle and Adam Tager and their partner Elwin Wright, owners of Brownstreet Furniture, Whitefield, N.H., announced Tuesday their acquisition of case goods manufacturer Vermont Tubbs of Brandon, Vt. The new owners made the purchase for an undisclosed amount through BSF Transition LLC, a wholly owned subsidiary of Brownstreet Furniture.

Vermont Tubbs has been making solid wood furniture in New England for 168 years, and the new owners committed to the same production quality and delivery timelines. Over the next 90 days Vermont Tubb’s existing manufacturing facility will continue production while the Tagers and Wright assess future production plans.

“We want to familiarize ourselves with the (Vermont Tubbs) facility and their production,” said Adam Tager. “We have two different lines and two good production facilities.”

Kyle Tager added that after 90 days, BSF Transition will have a better handle on overall costs with the Brownstreet and Vermont Tubbs plants: “Now is a time when you want to be as lean as possible.”

Denise Ogurkis, vice president of sales and marketing at Vermont Tubbs, has been with the company for more than three years and is working closely with the new owners to facilitate a seamless transition. She will stay on under its new ownership to help continue with the kind of brand outreach that has helped the company maintain long-term relationships with its customers.

“We’re looking for as much continuity as possible, and we’re fortunate to have Denise continue to work with us,” Kyle Tager said.

The Tagers’ partner at Brownstone, Elwin Wright, will oversee production in general for both companies.

“He’s our expert in production and has been doing this for 45 years,” Adam Tager said. “He’ll manage (Vermont Tubbs) production overall, but we’ll retain key foremen and managers.”

Twin brothers Kyle and Adam Tager acquired Mystic Valley Traders in 2003 and acquired majority ownership in Brownstreet Furniture from founding partner Elwin Wright in January 2008. The partners say they’ve had quick and noticeable successes with the implementation of fresh photography, innovative sales tools and popular product enhancements.

“The joining of these great talents couldn’t come at a more opportune time,” said Jon McNeill, former co-owner of Vermont Tubbs. “The Tager brothers have a gift for creating, managing and delivering compelling products. Coupled with Elwin Wright’s production talent, we can all expect to see big things under their combined leadership.”

John McNeill and his partner, Fred Musone, bought Vermont Tubbs in 2003, shifting the company from the brink of bankruptcy to its current level of more $6.5 million in sales scheduled for 2008.

“We will not disturb the processes that are working well and will work with the current team to bring a robust diversity of quality products to the marketplace,” said Kyle Tager. “Our business philosophy is based on a few effective strategies: work hard, value our people, produce with pride, get the details right and sell at a fair price.”

“Vermont Tubbs is a leading company in this industry, with a commitment to crafting authentic, American-made furniture that fits tongue and groove with the way we do business,” said Adam Tager. “We understand the heart and passion that goes into this kind of craftsmanship as well as the historic significance of Vermont Tubbs. We will maintain a status quo throughout the review period, and will strive to keep all the talent that has made this company a giant in the industry.”