Tervis is a well-known brand in the world of insulated drinkware, famous for its high-quality tumblers and water bottles that keep drinks hot or cold for hours. But have you ever wondered who owns Tervis? In this article, we’ll delve into the history of the brand, its evolution, and the current ownership structure.
A Brief History of Tervis
Tervis was founded in 1946 by three engineers, Frank Cotter, G. Howlett Davis, and John C. Winslow, in Detroit, Michigan. The company started as a small operation, producing insulated tumblers using a proprietary double-walled insulation technology. The name “Tervis” was coined from the combination of the words “thermal” and “insulation.”
Initially, Tervis products were marketed as a solution for the U.S. Navy, which needed insulated containers to keep drinks hot or cold in extreme temperatures. The brand quickly gained popularity, and its products became a staple in many American households.
Expansion and Innovation
In the 1950s and 1960s, Tervis expanded its product line to include various types of insulated containers, such as coffee mugs, water bottles, and food containers. The company continued to innovate, introducing new products and technologies that further solidified its position in the market.
One of the key factors that contributed to Tervis’ success was its commitment to quality and durability. The company’s products were known for their ability to withstand extreme temperatures, making them a favorite among outdoor enthusiasts, campers, and people who worked in harsh environments.
Changes in Ownership
Over the years, Tervis has undergone several changes in ownership. In 1966, the company was acquired by the Howlett family, who continued to run the business until 1998. During this period, Tervis experienced significant growth, and its products became widely available in retail stores across the United States.
In 1998, Tervis was acquired by the private equity firm, Clearview Capital. Under Clearview’s ownership, Tervis continued to expand its product line and distribution channels. The company also invested heavily in marketing and advertising, which helped to increase brand awareness and drive sales.
Current Ownership Structure
In 2019, Tervis was acquired by the private equity firm, Bregal Partners. Bregal Partners is a global private equity firm with a focus on investing in consumer goods, retail, and industrial companies.
Under Bregal’s ownership, Tervis has continued to innovate and expand its product line. The company has also invested in digital marketing and e-commerce, which has helped to drive sales and increase brand awareness.
What Does the Future Hold for Tervis?
As a leading brand in the insulated drinkware market, Tervis is well-positioned for continued growth and success. The company’s commitment to quality, innovation, and customer satisfaction has earned it a loyal following among outdoor enthusiasts, coffee lovers, and people who value durable and functional products.
In recent years, Tervis has expanded its product line to include sustainable and eco-friendly products, such as reusable straws and stainless steel water bottles. This move reflects the company’s commitment to reducing waste and promoting environmental sustainability.
Key Takeaways
- Tervis was founded in 1946 by three engineers in Detroit, Michigan.
- The company started as a small operation, producing insulated tumblers using a proprietary double-walled insulation technology.
- Tervis has undergone several changes in ownership, including acquisitions by the Howlett family, Clearview Capital, and Bregal Partners.
- The company is currently owned by Bregal Partners, a global private equity firm.
- Tervis is committed to quality, innovation, and customer satisfaction, and is well-positioned for continued growth and success.
Conclusion
Tervis is a brand with a rich history and a commitment to quality and innovation. From its humble beginnings as a small operation in Detroit, Michigan, to its current status as a leading brand in the insulated drinkware market, Tervis has come a long way. As the company continues to evolve and expand its product line, it’s clear that the future is bright for this iconic brand.
Whether you’re an outdoor enthusiast, a coffee lover, or simply someone who values durable and functional products, Tervis has something to offer. With its commitment to quality, innovation, and customer satisfaction, Tervis is a brand that is sure to continue to thrive for years to come.
| Year | Event | Description |
|---|---|---|
| 1946 | Founding of Tervis | Tervis was founded by three engineers, Frank Cotter, G. Howlett Davis, and John C. Winslow, in Detroit, Michigan. |
| 1966 | Acquisition by the Howlett family | Tervis was acquired by the Howlett family, who continued to run the business until 1998. |
| 1998 | Acquisition by Clearview Capital | Tervis was acquired by the private equity firm, Clearview Capital. |
| 2019 | Acquisition by Bregal Partners | Tervis was acquired by the private equity firm, Bregal Partners. |
As we conclude our journey through the history of Tervis, it’s clear that the brand has come a long way since its humble beginnings. With its commitment to quality, innovation, and customer satisfaction, Tervis is a brand that is sure to continue to thrive for years to come.
Who founded Tervis?
Tervis was founded in 1946 by three engineers, Frank Cotter, G. Howlett Davis, and John C. Winslow. They developed the first insulated tumbler, which was initially called the “Thermal Tumbler.” The founders’ innovative design and manufacturing process helped establish Tervis as a leader in the insulated drinkware industry.
The founders’ vision for Tervis was to create a product that would keep drinks hot or cold for hours, and their design achieved just that. The Thermal Tumbler was made with a double-walled insulation system that prevented heat transfer, keeping drinks at the desired temperature. This innovative design helped Tervis gain popularity among outdoor enthusiasts and eventually expanded to a wider market.
What is the significance of the name “Tervis”?
The name “Tervis” is derived from the last three letters of the word “servIce” and the first letter of the word “tumbler.” The founders chose this name to reflect the company’s focus on providing high-quality service and products. Over time, the name “Tervis” has become synonymous with insulated drinkware and is recognized as a leader in the industry.
Today, the Tervis brand is known for its wide range of products, including tumblers, water bottles, and wine glasses. The company’s commitment to quality and innovation has helped it maintain its position as a market leader. Despite changes in ownership over the years, the Tervis brand has remained true to its founding principles of providing excellent service and products.
Who currently owns Tervis?
Tervis is currently owned by the private equity firm, Clearlake Capital Group. Clearlake acquired Tervis in 2019, marking a new chapter in the company’s history. Under Clearlake’s ownership, Tervis has continued to expand its product line and invest in new technologies.
Clearlake’s acquisition of Tervis has provided the company with the resources it needs to continue innovating and growing. The private equity firm has a proven track record of supporting its portfolio companies and helping them achieve their full potential. With Clearlake’s backing, Tervis is well-positioned for continued success in the insulated drinkware market.
What is the history of Tervis’ ownership?
Tervis has had several owners throughout its history. The company was founded in 1946 by Frank Cotter, G. Howlett Davis, and John C. Winslow. In the 1960s, Tervis was acquired by the Rexall Drug Company, which helped expand the brand’s distribution channels. In the 1980s, Tervis was acquired by the private equity firm, Kohlberg Kravis Roberts (KKR).
In the 1990s, Tervis was acquired by the private equity firm, Castle Harlan. Under Castle Harlan’s ownership, Tervis continued to grow and expand its product line. In 2019, Clearlake Capital Group acquired Tervis, marking the company’s current ownership structure. Throughout its history, Tervis has remained committed to its founding principles of quality and innovation.
How has Tervis’ ownership impacted the company’s operations?
Tervis’ ownership has had a significant impact on the company’s operations over the years. Each owner has brought new resources and expertise to the company, helping it expand its product line and distribution channels. Under Clearlake’s ownership, Tervis has continued to invest in new technologies and manufacturing processes.
The changes in ownership have also led to shifts in Tervis’ business strategy. For example, under Castle Harlan’s ownership, Tervis expanded its product line to include new categories such as wine glasses and water bottles. Today, Tervis is focused on continuing to innovate and expand its product line, while maintaining its commitment to quality and customer service.
What is Tervis’ current business strategy?
Tervis’ current business strategy is focused on continuing to innovate and expand its product line. The company is investing in new technologies and manufacturing processes to improve efficiency and reduce costs. Tervis is also focused on expanding its distribution channels, both online and offline.
In addition to its product line expansion, Tervis is also focused on building its brand awareness and customer engagement. The company is investing in digital marketing and social media to connect with its customers and promote its products. Tervis is also partnering with influencers and brands to expand its reach and build its brand reputation.
What does the future hold for Tervis?
The future looks bright for Tervis. With Clearlake’s backing, the company is well-positioned to continue innovating and growing. Tervis is expected to continue expanding its product line and distribution channels, both online and offline. The company is also expected to invest in new technologies and manufacturing processes to improve efficiency and reduce costs.
As the demand for insulated drinkware continues to grow, Tervis is well-positioned to capitalize on this trend. The company’s commitment to quality and innovation has helped it maintain its position as a market leader, and it is expected to continue to be a major player in the industry for years to come.