5 apr 2023 - #acquisitionsALL NEWS
Royal United Mint, the parent company holding the Royal Dutch Mint and Mauquoy Token Company, acquires Osborne Coinage Co.
The American company, based in Cincinnati, Ohio is the oldest private mint in the United States and has been owned by the Stegman family for 75 years. Through this acquisition, Royal United Mint establishes its US presence and becomes the undisputed world leader in the production of base metal tokens and medals. Andre McCaster, who has been the in charge of Osborne Coinage for two years, will continue to manage Osborne Coinage and becomes joint shareholder in this transaction.
Through the acquisition a long cherished ambition of Royal United Mint becomes a reality. Via Osborne Coinage small and midsize customers in the United States can be served in a better way. The company produces both blanks and payment tokens in base metals as collectible coins in precious metals and base metals for collectors and central banks.
Osborne Coinage is just like daughter companies Royal Dutch Mint and Mauquoy Token Company, continuously on the lookout for new applications and innovations in the rather traditional mint industry. The geographic and strategic complementarity made Osborne Coinage the eminent takeover candidate for Royal United Mint. The group wants to copy its success models from Europe in the United States and vice versa.
Osborne Coinage, the Royal Dutch Mint and Mauquoy Token Company are making virtually the same products, albeit with different production methods, techniques and capabilities. This takeover will facilitate knowledge sharing, an expansion of the product range, as well as efficiency gains in production, sales and logistics. The short term ambition is to converge the success formulas across companies. In the long term, Osborne Coinage will relocate to a modern building with an optimized production flow. In doing so, the company follows the example of the Royal Dutch Mint, that moved to a more spacious, energy-efficient, highly secured and ultra-modern building in 2020.
The management of Osborne Coinage will remain in the hands of Andre McCaster after takeover. Also in this sense, Osborne Coinage follows the example of the Royal Dutch Mint that kept its autonomy after the takeover in 2016. Hence, for customers and other stakeholders little will change. The product range and production capacity will expand, however. Customers and suppliers will therefore have more opportunity to work with the group of companies.
“The first goal is to make it true as the leader in the Minting Industry by providing quality, unique, and timely products/services throughout the world. The second goal is to establish and maintain operational and management efficiencies to meet the ever-changing needs of its customers and remain competitive in the marketplace”, said Andre McCaster, President of Osborne Coinage.
Osborne Coinage is the oldest private mint of the United States and already made tokens for presidential Abraham Lincoln, Ulysses S. Grant en Franklin D. Roosevelt. In the early 1900s coal mines and lumber mills purchased scrip money used to pay employees and accepted at company stores. During the Second World War Osborne Coinage made blue and red fiber tokens, saving coinage metals for the war effort.
Shortly after the Second World War, the company was taken over by Clifford Stegman and the focus started to shift to more commercial applications. The production of tokens for subways and for promotional campaigns of well-known corporations are examples of other historical milestones.
After the takeover, Osborne joins a group of companies with a rich tradition. The Royal Dutch Mint was established in 1567 and is one of the oldest companies in the Netherlands. The history of Mauqoy Token Company goes back to 1875.
“Osborne Coinage Company is approaching its 200-year anniversary. As the representatives of three generations of our family stewarding Osborne Coinage Company for the past 75 years, we are pleased and excited for the next chapter”, say the former owners Jeffrey Stegman and Todd Stegman.
Osborne Coinage, based in Cincinnati, Ohio offers a wide variety of custom coins for applications like awards, gift certificates, commemoratives, food or drink coupons, giveaways, in-box promotions, grand opening celebrations, sporting events, challenge coins and souvenirs. In addition, Osborne Coinage produces blanks in base metals for other mints, as well as commemorative and circulation coins for central banks and Collectors. Osborne employs about 60 people.
The Royal Dutch Mint (“RDM”) was established in 1567 and is one of the oldest companies in the Netherlands. RDM belongs to the top 5 mints internationally. RDM is the first and only private mint that is certified to strike euro coins. RDM is one of the most efficient and advanced companies in the mint industry. In the past years RDM developed innovative techniques, including amongst others the laser engraving for the mint industry as well as special design technics (hologram and moving images). RDM has struck coins for more than 70 central banks.
Mauquoy Token Company (“MTC”), based in Westerlo, Belgium is Europe’s largest manufacturer of tokens and blanks in base metals with global export. These tokens are used in a vast array of industries and applications, ranging from vending and amusement machines, to promotional actions and events. Blanks in base metals are sold worldwide to public and private mints.
Royal United Mint is a holding that invests in promising niches of the coin industry. Besides the three mints (Royal Dutch Mint, Mauquoy Token Company, Osborne Coinage), the group has related activities in its portfolio: an operator of souvenir coin machines (National Tokens), a webshop with custom tokens for the B2C market (Vistamint), storage and logistics of value products (Dutch Value Logistics) and a manufacturer of tools foor the metal processing industry (Tools & Dies). Royal United Mint will employ over 200 people (including the acquisition of Osborne Coinage).