Canadian casual dining resource acquires competitor Mi-Di
Quebec company has four divisions with three in dining, including Dinec
Jeff Linville -- Furniture Today, May 10, 2007
MASKINONGE, Quebec — Canadian casual dining specialist Bermex International here has purchased a Maskinonge-based competitor, Mi-Di, for an undisclosed amount.
Although not well known in the United States, Mi-Di sells about C$10 million annually in dining furniture, said Bermex President Daniel Walker. Launched in 1989, Mi-Di manufactures solid-birch formal and casual dining sets in transitional, contemporary and traditional styles. It will operate as a separate division of Bermex.
With its latest purchase, Bermex has four divisions. Last year, it acquired casual dining maker Dinec and import bedroom company J747. Before financial troubles placed Dinec under bankruptcy protection, its volume was C$40 million in 2004.
The combination of the three dining resources is expected to increase Bermex’s presence in both casual and formal dining as it prepares to celebrate its 25th anniversary next year.
Walker said he is looking for a strong 2007, despite the struggles many in the industry have faced this year.
Asked how the Mi-Di acquisition came about, Walker pointed out that Bermex, Dinec, Mi-Di, Canadel and Shermag are all based in Quebec and know each other pretty well. He said he began talking two years ago to the key owner of Mi-Di, who was looking to retire. Those negotiations concluded last month, he said.
Bermex will spend the next few weeks considering how best to welcome its newest division into the fold, Walker said. Mi-Di doesn’t show in the United States, so the company could be rebranded under a new name, he said. Also under discussion is whether Mi-Di product will be shown at the High Point and Las Vegas markets.
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