Belgian crane machine manufacturer Elaut, through its US subsidiary Elaut USA, has bought American amusement game manufacturer Coast to Coast Entertainment of New Jersey.
John Maurer and Gary Balaban, founders of Coast to Coast, said that the backing of Elaut would ensure that the company could grow its brand and they planned to show four new products at the upcoming IAAPA show.
Eric Verstraeten, managing director of Elaut in Belgium, said that there were significant synergies between the two companies. His American subsidiary’s CEO Glenn Kramer said that the two companies would work on a number of joint projects in the coming years.
The plan is for Coast to Coast to continue to operate independently, as a division of Elaut USA, with the same staff and offices. Said Glenn Kramer: “ As the industry continues to change the acquisition will help both companies to be agile to meet the market’s needs. We see areas of growth within a variety of segments; by coming together both companies can maximise their ability to serve those segments.”
Coast to Coast operates out of the same building in Lakewood, New Jersey, as Elaut USA, so the acquisition is not a surprise to many American observers.
