Smead Manufacturing Announces Major Accomplishments in 2016
Major Minnesota manufacturer solidifies its position as an industry leader with innovative approach to driving growth, next generation leadership and continued growth of mindshare
HASTINGS, Minn., Jan. 10, 2017 /PRNewswire/ -- Representatives from Smead Manufacturing Company, a global leader in organizing solutions, announced the achievement of several accomplishments in 2016, including the celebration of its 110th year of business. Major initiatives in 2016 have included a stronger focus on e-commerce, the expansion of distribution channels for existing product lines and a renewed focus on reinforcing the Smead brand to increase mindshare among partners and consumers. In addition, the organization strengthened its executive leadership team by naming Casey Avent as President, representing the fourth generation to lead Smead, a family-owned business since its inception in 1906 and a woman-owned business since 1955. Sharon Avent continues in her role as Chief Executive Officer.
"2016 marked our 110th anniversary and it's been a hallmark year for many reasons beyond our celebration of longevity," said Casey Avent, President of Smead Manufacturing Company. "We're investing in strengthening our e-commerce position across all channels and pursuing expansion through a search for strategic acquisitions or joint ventures. It's an exciting time for Smead as we leverage the power of our historic business brand while building a new future based on product diversification." Avent added that Smead's goals reflect strengthening the brand, a focus on e-commerce and diversifying channels of distribution.
In 2016, Smead launched a joint venture initiative with Justick, a unique adhesion whiteboard solution, to broaden its product and customer base. The company has also introduced many of its existing products to retailers and wholesalers, as well as through its e-commerce partners. For the past several months the company has been involved in an active search for acquisition targets that represent complementary business opportunities. This activity is part of Smead's overall strategy to continue to expand its brand reach and broaden revenue streams.
"We're looking forward to the next chapter at Smead, one that allows us to evolve along with our industry while leveraging the history of our brand," said Sharon Avent, CEO of Smead. "While we will continue to focus on our dedicated customers and employee base, two of the critical success factors of our business, we plan to expand in the coming years to find new opportunities that complement our existing business. We're confident this approach will ensure growth over the next 100 years as well."
About Smead: Smead Manufacturing Company, a global leader in office management systems, was established in 1906 in Hastings, Minnesota. Smead is a privately held, certified Women's Business Enterprise (WBE) offering thousands of organizational products for use in the home or office. For more information on Smead's high-quality organizational products, including hundreds of products made in the USA, visit Smead.com.
SOURCE Smead Manufacturing Company
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