Twist Brands, a Mandeville-based arts and crafts franchise, has acquired a competing business that will boost the company’s annual revenue by 40%.
The company, which is the parent of Painting with a Twist, purchased another “paint-and-sip” business, Pinot’s Palette, in a deal that was announced Wednesday. Financial terms were not disclosed.
Officials with Twist Brands said the deal will boost the company’s revenue from $100 million to $140 million.
Pinot’s Palette has 69 locations across the U.S. and Canada. The locations will continue to operate under a separate brand from Painting with a Twist.
The deal will allow Painting with a Twist to share resources with Pinot’s Palette and reach even more customers.
“We’re elated to welcome another paint-and-sip concept into the Twist Brands family,” Cathy Deano, co-founder of Painting with a Twist, said in a statement.
Deano and Renee Maloney started Painting with a Twist in 2007 in a Mandeville barn. The company has grown by acquiring competitors, first starting with Bottle & Bottega in 2018.
The Twist Brands holding company was formed in 2020, when the company purchased Color Me Mine, a paint-your-own pottery franchise, and Chesapeake Ceramics, a ceramics maker. The company later purchased TD Art Supply, a niche arts and crafts supplier.
Twist Brands now has about 440 locations across the U.S. and Canada.
