Mandeville-based arts and crafts franchise Twist Brands is acquiring a competitor in a move that is expected to boost the company’s annual revenue by 40 percent.
The Paint With a Twist parent company acquired another “Paint & Sip” business, Pino Palette, in a deal announced Wednesday. Financial terms were not disclosed.
Twist Brands officials said the acquisition will increase the company’s revenue to $100 million to $140 million.
Pino’s Palette has 69 stores across the U.S. and Canada, which will continue to operate under a separate brand from Painting With a Twist.
The agreement will allow Painting with a Twist to share resources with Pinot’s Palette and reach even more customers.
“We’re excited to add our new Paint and Drink concept to the Twist Brands family,” Painting with a Twist co-founder Cathy Dino said in a statement.
Dino and Renee Maloney founded Painting With a Twist in a barn in Mandeville in 2007. The company has grown by acquiring competitors, starting with Bottle & Bottega in 2018.
The Twist Brands holding company was formed in 2020 with the acquisition of paint-your-own pottery franchise Color Me Mine and pottery manufacturer Chesapeake Ceramics. The company then acquired niche arts and crafts supplier TD Art Supply.
Twist Brands currently operates approximately 440 locations across the United States and Canada.