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Techcraft Acquires Gusdorf

5/23/2006 11:59:00 AM Eastern

Montreal — Techcraft Manufacturing, a maker of A/V, home entertainment and home furnishings under the Techcraft and Paramount brand names, announced yesterday the acquisition of Gusdorf Canada.

Under the terms of the agreement, Gusdorf operations will be integrated into Techcraft.

“We are extremely excited to add Gusdorf to our growing stable of brands, and look forward to servicing our new customers,” said Techcraft’s president Danny Berthelet in a release. “As we continue to grow our business and diversify our product mix, this acquisition fits in perfectly with our strategic plan.”

Terms of the acquisition were not disclosed.

“Our new management team is taking a very aggressive stance towards maximizing market opportunities,” said CEO Michael Selim. “Our goal is to be the best furniture provider in North America. We believe this acquisition is another step in that direction.”