Reno yarn retailer Jimmy Beans Wool purchases Madelinetosh
RENO, Nev. — Jimmy Beans Wool, a market-leading retailer of yarn and accessories for knitters and makers, announced recently the acquisition of Madelinetosh, the largest hand-dyed yarn producer in America.
According to an Oct. 30 press release from Reno-based Jimmy Beans Wool, the purchase of Madelinetosh, previously owned by Amy Hendrix and John Ballard, marks the company’s largest acquisition to date.
Terms of the deal were not disclosed.
The move comes on the heels of Jimmy Beans Wool‘s recent purchases of two popular bag and accessories companies, Namaste in 2018 and della Q in 2019.
“Yarn is such an important part of Jimmy Beans’ DNA, and with the addition of Madelinetosh, it feels like a match made in yarn heaven,” Laura Zander, co-founder of Jimmy Beans Wool, said in a statement. “We’ve been carrying Madelinetosh for years, and to see what Amy and John have created is remarkable. Their eye for color and ability to take dyeing from their kitchen to becoming the largest hand-dyer in the country is just incredible. We hope that we can continue their legacy, while adding our customer service and marketing touch to the brand.”
According to the company, Madelinetosh headquarters and team will remain in Fort Worth, Texas, “for the foreseeable future,” with additional operational and sales support coming from Jimmy Beans’ 20,000-square-foot retail and warehouse headquarters at 4850 Joule St. in Reno.
“We will be evaluating if and when a move to Reno would make sense,” Libby Butler-Gluck, marketing and public relations consultant for Jimmy Beans Wool, said in an email to the NNBV. “Right now the goal is to get settled with our new team. We are shifting some professional services to (Nevada) companies…”
All told, Jimmy Beans Wool now employs 75 people. Gluck said the company is looking to add 2-3 jobs to the Reno HQ to support the acquisition, “and soon will increase our employee base by 10%, with a mid-term goal of an increase of 20% plus.”
“I point out many cases of where privately owned companies do just as bad a job as publicly owned companies,” says Reno resident and former teacher Robert (R.D.) Gardner.