SigmaQ Announces Acquisition of Chippenhook Corp
Mergers and acquisitions – June 2014 – San Salvador, El Salvador
SigmaQ Group completes Chippenhook acquisition
SigmaQ Group, a leading producer of packaging and display products based in San Salvador, El Salvador has completed the acquistion of Chippenhook Corporation, the US-based designer and provider of visual merchandising, packaging, and fixture products.
Henry Yarhi, Chairman and CEO of SigmaQ Group, stated: "We are very pleased to have Chippenhook join our family of companies. Their global supply background, positions our core group currently serving Central America and the Caribbean for an expanded presence increasing market share in the US and Europe. Barry Rutherford, former CEO of Chippenhook brings over 35 years’ experience in leadership positions in the US and Hong Kong, and will be a welcome addition to our management staff in San Salvador."
Barry Rutherford will become Managing Director of a new business unit, SigmaQ Luxury Products which will comprise of Bufkor, Chippenhook and SigmaQ Specialty Products. Barry will be based in San Salvador. Mr. Rutherford stated: "This is a time of dynamic change in the global supply chain world. As we look forward, we could not have possibly found a better partner than SigmaQ."
Founded in 1969, SigmaQ is a leading multinational supplier in Central America and the Caribbean. With over 2,000 collaborators, 10 factories in Central America and 8 sales offices in Central America, the Dominican Republic, Mexico, the U.S. and France, SigmaQ is an integrated manufacturer of flexible, plastic, corrugated and luxury packaging, labels and pre-press products for a broad range of Fortune 500 customers and regional clients.
Chippenhook was founded in 1973 and is a leader in the jewelry, watch, optical, and international luxury brand markets for custom visual merchandising, packaging, and fixtures. Chippenhook is headquartered in Lewisville, TX. with offices in Hong Kong, China. Chippenhook offers extensive design, project management, global sourcing and logistics experience.
Chippenhook is the second major acquisition in this market segment in the US by SigmaQ. The company also acquired Bufkor, one of the original manufacturers of jewelry and display packaging in the US. Bufkor display and packaging products which are fabricated at SigmaQ’s Specialty Products production facilities in El Salvador.
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