Envela Corporation (NYSEAM:ELA) entered into an agreement to acquire Steven Kretchmer, Inc. on September 12, 2023. Following the acquisition, Claudia Kretchmer and the current Kretchmer management team will continue to lead the company. After the acquisition, the manufacturer will continue to be based in Scottsdale, Arizona, and maintain its employee base. It will operate as a subsidiary within Envela's Consumer Division.

Envela Corporation (NYSEAM:ELA) completed the acquisition of Steven Kretchmer, Inc. for $0.3 million on September 12, 2023.