BOSTON, Nov. 16, 2016 /PRNewswire/ -- Velcro Companies, the leading independent company in the global fastening industry, today announced it has established a partnership with STAYHOLD Ltd., a leader in anti-movement and storage solutions for consumers on the go.
Velcro Companies has agreed to make a financial investment in STAYHOLD and will be its exclusive distribution partner immediately in the UK, Australia and New Zealand and by the end of the year in the US and Latin America. Financial terms were not disclosed. Fraser Cameron, CEO of Velcro Companies, said: "This agreement reflects our commitment to create a powerful global consumer business by developing new products and leveraging the strong consumer awareness of the VELCRO® brand. With a heritage of innovation and a passion for great product design, STAYHOLD is an ideal partner to help us realize this goal." Mark Sater, Vice President of Strategic Execution for Velcro Companies, said: "We look forward to working with STAYHOLD to bring its products into new markets and to integrate VELCRO® brand technologies in a wide range of applications. STAYHOLD'S skills, knowledge and technical expertise in product development complement our own, and together we will be able to create products that consumers truly value." STAYHOLD cargo organization products are made possible by Velcro® Brand technology using micro hook material to stick to the carpet surface in car interiors and act as removable modular walls that stop loose items from moving around and getting damaged. Today, STAYHOLD products are sold in more than 20 countries.