Lodge acquires FINEX Cast Iron
For the first time in its 123-year history, AFS Corporate Member Lodge Cast Iron (South Pittsburg, Tennessee) has made an acquisition.
Lodge announced it is purchasing FINEX Cast Iron, a producer of skillets, pans and ovens. Lodge is shifting FINEX production to South Pittsburg, though FINEX will keep its sales and marketing base in Portland, Oregon. The FINEX brand will remain.
"This merging of like-minded American cast iron companies is an exciting opportunity for the future of USA-made cast iron cookware," Lodge CEO Mike Otterman said to the Times Free Press. "The decision falls in line with our mission to build shareholder equity and keep the Lodge business thriving while staying true to our values and our small company roots."
"Lodge has built the great tradition of American cast iron cookware and kept it alive — in our hearts and in our kitchens — when no one else could," said Ron Khormaei, who co-founded FINEX. "We wouldn't be here without Lodge's great heritage and we're incredibly excited to expand cast iron cooking to new fans, new regions and new generations together."
The acquisition of FINEX is the latest move for Lodge, which named Otterman its CEO in February. In late 2017, Lodge began operations at a new 127,000 sq. ft. facility in South Pittsburg. This facility, nicknamed the 3rd Street Foundry, has a melt center with two induction furnaces, a sand system and a pair of sand molding machines. With the new addition, Lodge has increased its manufacturing capacity by 75%.
In July, Lodge introduced the Blacklock line of cast iron cookware, which is triple-seasoned and lightweight.
“Blacklock is the result of years of exploration and research to see if we could achieve a product that solves some of the issues consumers face when using cast iron cookware, such as seasoning, weight, and handles that get hot,” the company said on its website.