Kassoy, the venerable jewelry supply company, has been purchased by Kenstan Lock Co.
A new company, Kassoy LLC, will be a subsidiary of Kenstan, headed by Hans E.R. Bosch, also managing director of Kenstan.
Kassoy will maintain its New York City showroom facilities located on 47th Street in Manhattan but will move its headquarters into a new facility in Plainview, N.Y., in early 2007.
Kassoy’s former owner and president, Peter Gollon, whose family ran the company for 46 years, will continue with the company in an advisory role.
“I’ve gotten older and tireder,” Gollon said. “I said OK, it’s time to smell the daisies. Given that the business is good and the company is healthy, I don’t feel I’m leaving people in the lurch by passing it on.”
Kenstan distributes security locking systems for showcases and other fixtures, a statement said.
“I don’t think we will see major changes,” Gollon said. “Everyone who has been here is still here. But things change and different people have different insights.”