Myca acquires rest of Relax-R
By Gary Evans -- Furniture Today, February 2, 2003
Milton, Vt. — Relax-R Corp. has been acquired by Myca Inc., a Canadian company that previously held a majority interest in the metal glider rocker producer.
With the acquisition, effective Jan. 15, Manuel Moreau became Relax-R president and general manager. He said the purchase would strengthen the company in North America and solidify its global position.
Butch McCracken, who founded Relax-R with wife, Patti, will remain for a short time as consultant. The McCrackens were minority stockholders. Both Myca and Relax-R are privately held. A purchase price was not disclosed.
Myca has made tubular steel products for 12 years, and says it was the first company to produce glider rockers with three-motion action — glide, swivel and recline. Based in Beauce, Quebec, Myca also makes a line of tubular chairs for the residential, institutional and medical markets, and said it is the largest company of its kind in Canada.
Myca's purchase gives the six-year-old Vermont company a second distribution facility. Relax-R, which introduced three-motion gliders to the U.S. market, also is an important player in Europe, particularly in the United Kingdom and France, the company said.
Moreau, also vice president of Myca, said Relax-R has "already signed global agreements to increase our worldwide presence to 12 showrooms. This move ... will foster our continued growth and keep us at the forefront of the market both at home and abroad."
The company expects to expand its line dramatically, he said.
Moreau has 23 years of experience in the furniture industry, including 10 years as a director of Cantrex and Gest-Accor, Canadian buying groups. For the past two years, he was international sales director of Relax-R.
Yvan Marcoux, president of Myca, becomes chief executive officer of Relax-R. Rounding out the executive team are Dan Ide, who moves from national sales manager to vice president of sales and marketing, and Jay O'Shea, who moves from vice president of sales to vice president of merchandising. Chris Shaw takes on additional duties in operations at corporate headquarters in Milton.
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