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Lodge acquires Finex

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    Lodge acquires Finex

    https://gearpatrol.com/2019/08/14/lo...lets-cookware/
    Lodge Acquired Finex. What Does That Mean for the Cast Iron Enthusiasts?


    AUGUST 14, 2019 By WILL PRICE

    Save the fact both make cast-iron cookware, Lodge and Finex could not be more different. Starting at under $10 a skillet, Lodge’s wares are made en masse via induction forge and automated molding, and after a round of seasoning is applied, they’re ready for sale. Finex’s octagonal pans start at $175, have machine-smoothed cooking surfaces, sport unconventional steel coil handles and are cast significantly heavier. As of yesterday, Lodge owns Finex; what does that mean for cast iron cooking enthusiasts?

    According to a report in the Chattanooga Times Free Press, Lodge will forge and cast Finex’s catalog in its South Pittsburg, Tennessee foundry. Previously, the company relied on contract forges and production facilities to get the pans to its Portland, Oregon base for finishing. The brand confirmed that this will not mean price drops on cookware from either brand in the comments of the Instagram announcement.

    Though this is the first acquisition in Lodge’s 123-year history, it falls in line with the company’s recent push into the premium cast iron space, with the July launch of the vintage-inspired Blacklock collection and March launch of the performance-focused Chef’s Collection.

    The news could mean anything for fans of Lodge’s much-loved vintage cast iron. Will Lodge see the Finex line as ample presence in the super-premium cast iron space, or will it expand further into the category with its own machine-smoothed cookware? After nearly 70 years of waiting for Lodge to re-make its hand-poured, smooth-surfaced skillets of yesteryear, we wouldn’t hold our breath.
    Last edited by Attjack; August 14, 2019, 04:22 PM.

    #2
    Well, InBev (Budweiser) has acquired several craft breweries and kept the quality the same, I hope this is the case here.

    Comment


      #3
      I saw this in the Chatt paper today. I don't buy premium CI, so no dog in the fight, but the Finex people will still be on board, so I think no changes to quality right away, just more product availability.

      Comment


      • ComfortablyNumb
        ComfortablyNumb commented
        Editing a comment
        "I don't buy premium CI" Allow me to finish that sentence for you, "yet." ;-)

      #4
      I personally think, they will raise their prices, when absolutely the cost of production has dropped, although their balance sheet has changed. Side note, I have been looking a lot at a second 4 qt dutch oven for bread making, and think I am going to land on Marquette Castings enameled 4 qt. Any one have experience with those?

      Comment


      • mnavarre
        mnavarre commented
        Editing a comment
        No experience with the brand, but 4 qt. could be on the small side for a 1 lb. boule, depending on the dimensions.

      #5
      Kinda like Converse acquiring Gucci

      Comment


        #6
        My guess is not much changes. The lodge brand name is what it is. Good, but not "premium". To expand into the higher end of the market you either acquire another existing brand OR launch an all new one.

        Since the Lodge brand is already carried by so many retailers, they can piggyback the new brand on top of it and instant wide distribution network. But they will also want to keep the lodge buyer market segment.

        My prediction is the Finex brand will become easier to get. Order online and pick up at the local Walmart easy. Quality will remain the same, and of course the current Lodge we all know will still be around.

        Buying a premium brand just to lower quality and capture higher profit margins only works for the very short term. People spending $200 on a skillet know the difference between good stuff and "meh, it’s OK but nothing special".

        Comment


          #7
          When it comes to cast iron cookware, I defer to Spinaker . I will await his response ;-)

          Comment


          • Attjack
            Attjack commented
            Editing a comment
            Exactly who I was thinking about when I posted this.

          • ComfortablyNumb
            ComfortablyNumb commented
            Editing a comment
            The only thing Spinaker is concerned about is does he still make the cheque out to Finex?

          #8
          My uncle bought me the 12 inch skillet for my birthday. I had never heard of FINEX before then. After I seared my first steak on it, my only regret was that I didn't buy one sooner. An absolute workhorse. Hope the quality doesn't suffer.

          Comment


            #9
            I don't see this affecting either company as Lodge has excess forge capacity with there latest upgrade. Finex has always been a finisher of there cast ware. It should be a match made in heaven.

            Comment


            • Attjack
              Attjack commented
              Editing a comment
              This is what I'm thinking. Since Finex is a company from my town I just hope the operation stays here and expands.

            #10
            Healthy companies that make money for their owners usually don't get acquired. Companies that are struggling in some way tend to get acquired by someone who thinks they can run them better, and changes usually follow. Not saying that this is necessarily the case here--maybe something else is going on in terms of logistics or synergies, but if I were a Finex fan, I'd be looking to purchase anything I really wanted sooner rather than later.

            Comment


            • ComfortablyNumb
              ComfortablyNumb commented
              Editing a comment
              Not always the case. Another reason companies get bought is because they are doing well and the large corporation eliminates the competition by buying them and taking over their market, while the entrepreneur makes a nice profit and goes on to retire or do something else. Happens a lot to organic food producers and brewers.

            • Murdy
              Murdy commented
              Editing a comment
              I do agree, could be lots of reasons, but it is worth paying attention to, particularly if one was putting off a purchase.

            • ComfortablyNumb
              ComfortablyNumb commented
              Editing a comment
              Murdy I agree with that, quality isn't going to improve, hopefully stay the same, but could suffer. Not to mention price could go up.

            #11
            Just got back into communication form the north woods.....

            This is very interesting news! I will have to read up on it. But for now, bed time after a short 1 hr float flight and a 10 hour drive, I gotta get some sleep but I will have to look into this very interesting development! Thanks for posting!

            Comment


            • ComfortablyNumb
              ComfortablyNumb commented
              Editing a comment
              Hmm, it's not too late to turn around and go back! ;-)

            • Spinaker
              Spinaker commented
              Editing a comment
              I thought about it! But I’d miss you all too much, you know that. LOL. ComfortablyNumb

            • HawkerXP
              HawkerXP commented
              Editing a comment
              Ack!

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