Hatco Corporation has snapped up Ovention, the Dallas-based oven technology company that owns the rights to the Matchbox oven.
The Matchbox oven was devised by the inventor of the original TurboChef, Phil McKee, and features two cooking surfaces that broil, bake, grill or toast with speed and precision.
David Rolston, president and CEO of Hatco Corporation, said the company was delighted to get its hands on such an innovative brand.
“We are very excited about the Ovention technology and its overall industry potential. The Matchbox oven is truly revolutionary and solves many common operator problems. This technology offers excellent growth potential for years to come,” he said.
Hatco has been serving as the sole contract manufacturing partner to Ovention since the second half of last year.
It intends to operate Ovention as an independent business unit supported by a team of dedicated professionals.
Hatco’s director of business development, Steve Everett, has been assigned the position of general manager of the Ovention business unit.
“From a market perspective, Ovention’s team will be independent from Hatco’s which will allow us to dedicate our sales professionals and manage our distribution channel efficiently,” explained Rolston. “The synergies provided by leveraging our manufacturing resources will further contribute to Ovention’s and Hatco’s success.”