Oriental Trading Company

American company

Oriental Trading Company

Company type| Subsidiary
Industry| Direct marketing
Founded| 1932; 93 years ago (1932)
Founder| Harry Watanabe
Headquarters|

Omaha, Nebraska

Area served

| Worldwide

Key people

| Steve Mendlik, CEO[1]
Products| 40,000
Owner| Berkshire Hathaway

Number of employees

| est. 2,000[2]
Subsidiaries| MindWare Holdings, Inc.[3]
SmileMakers[4]
OTC Direct Inc.
Website| orientaltrading.com

Oriental Trading Company is a direct merchant of value-priced party supplies, arts and crafts, toys, novelties, and school supplies.[5] It was founded in 1932 as a wholesaling company. It is based in Omaha, Nebraska, and is owned by Berkshire Hathaway.[6][7] Alternative known names for Oriental Trading Company include "Oriental Trading" & "OTC".

## History

[edit]

The company was founded as a gift shop in 1932 in Omaha, Nebraska, by Harry Watanabe. The company expanded to 17 shops in the Midwest. During World War II, with restrictions against imports from Japan, the company shrank back to its Omaha base. Watanabe then bought a ceramic shop which made Kewpie dolls and other ceramic items.[8]

In 1954 the company resumed its imports from Japan and was a major carnival supplier and in 1956 it launched its first catalog.[9]

In 1977 Watanabe's son Terrance Watanabe became president and its focus shifted from carnivals to supplying party goods for churches, schools, retailers, and individuals.[citation needed]

In 2000, Terrance sold his entire stake in the company to Los Angeles–based private equity firm Brentwood Associates, and resigned as CEO and President.[10] He became a philanthropist, but subsequently lost most of his fortune gambling in Las Vegas.[11]

In 2006, The Carlyle Group bought 68 percent interest in the company with Brentwood owning a reported 25 percent.[12]

On August 24, 2010, Oriental Trading Company via OTC Holdings Corp. filed for Chapter 11 bankruptcy protection. During the bankruptcy procedure, the company had plans to cut half of its $1 billion of debt. The company continued to operate normally during the process.[13]

On November 2, 2012, Berkshire Hathaway announced they would acquire the company.[14][15]

Oriental Trading acquired MindWare Holdings, Inc. in 2013 and SmileMakers in 2014. MindWare manufacturers and sells toys. SmileMakers sells to the dental and healthcare markets.[citation needed]

The company's CEO Sam Taylor appeared in the March 10, 2012, episode of the TV show Undercover Boss.[16] Taylor, who had been CEO since 2008, died after a year long illness in December 2017, and COO/CFO Steve Mendlik was named acting CEO in January 2018.[1]

## Notes

[edit]

1. ^ a b Jordon, Steve (January 2, 2018), "Oriental Trading CEO who turned company into profitable part of Berkshire dies at 56", Omaha World-Herald
2. ^ "About Us | Oriental Trading Company". Oriental Trading.
3. ^ "Oriental Trading Company to Acquire SmileMakers" (Press release). 21 February 2014.
4. ^ "Oriental Trading Company Acquires MindWare" (Press release). 27 June 2013.
5. ^ "Oriental Trading Careers". Oriental Trading.
6. ^ Wirz, Matt (5 November 2012). "Berkshire Buys Oriental Trading". Wall Street Journal.
7. ^ Roumeliotis, Greg; Oran, Olivia (November 2, 2012). "Warren Buffett buys toy and party-supplies company". Reuters.
8. ^ "About Oriental Trading". Oriental Trading. Retrieved July 6, 2014.
9. ^ "Oriental Trading". Archived from the original on 2017-03-06. Retrieved 2017-01-19.
10. ^ "Metro/Region". Omaha.com. Archived from the original on 2013-01-30. Retrieved 2010-09-28.
11. ^ Weisenthal, Joe (December 6, 2009). "Meet The Man Who Blew $127 Million And Most Of His Family's Fortune Gambling In Vegas". Business Insider. Retrieved November 20, 2018.
12. ^ "Oriental Trading Sold multichannelmerchant.com - June 13, 2006".[permanent dead link]
13. ^ McCarty, Dawn (2010-08-25). "Oriental Trading Co. Files for Bankruptcy in Delaware". Bloomberg. Retrieved 2010-09-28.
14. ^ De La Merced, Michael J. (November 2, 2012). "Berkshire to Buy Oriental Trading Company". The New York Times.
15. ^ "Berkshire Hathaway to Acquire Oriental Trading Company" (PDF) (Press release). Berkshire Hathaway. November 2, 2012. Archived from the original (PDF) on 2012-11-19.
16. ^ Fastenberg, Dan (March 12, 2012). "Workers At Party Supply Company Far From Festive During 'Undercover Boss' Episode". AOL. Retrieved July 6, 2014.

## References

[edit]

* "U.S. Bans Toyko[sic] Trader", The New York Times, Associated Press, August 4, 1959
* Creswell, Julie (July 21, 2010), "A Business Built of Kewpie Dolls Is Struggling to Survive", The New York Times
* "Product Recalls", Consumers' Research  – via Gale (publisher) (subscription required) , vol. 76, no. 12, p. 36, December 1993(subscription+required)+Category:Subscription+required+using+viaCategory:Pages+containing+links+to+subscription-only+content&rft.atitle=Product+Recalls&rft.volume=76&rft.issue=12&rft.pages=36&rft.date=1993-12&rfr_id=info:sid/en.wikipedia.org:Oriental+Trading+Company" class="Z3988">
* "Indiana Librarian Triggers Nationwide Toxic-Toy Recall", American Libraries  – via Gale (publisher) (subscription required) , vol. 37, no. 8, p. 12, September 2006(subscription+required)+Category:Subscription+required+using+viaCategory:Pages+containing+links+to+subscription-only+content&rft.atitle=Indiana+Librarian+Triggers+Nationwide+Toxic-Toy+Recall&rft.volume=37&rft.issue=8&rft.pages=12&rft.date=2006-09&rfr_id=info:sid/en.wikipedia.org:Oriental+Trading+Company" class="Z3988">
* "Oriental Trading Company Exits Chapter 11", Health & Beauty Close-Up, February 17, 2011, archived from the original on March 24, 2017
* Lead Poisoning Hazard Prompts Recall Of Metal Charm Bracelets, US Fed News Service, March 23, 2006, archived from the original on March 24, 2017

## External links

[edit]

* Official website

* v
* t
* e

Berkshire Hathaway

Board of
directors|

* Warren Buffett
* Greg Abel
* Howard Graham Buffett
* Susan Decker
* David Gottesman
* Ajit Jain
* Ronald Olson
* Walter Scott Jr.

Predecessors|

* Valley Falls Company
* Berkshire Fine Spinning Associates
* Hathaway Manufacturing Company

Insurance|

* GEICO
* BoatUS

| Berkshire Hathaway
Primary Group|

* Alleghany Corporation
* RSUI
* CapSpecialty
* Berkshire Hathaway Direct
* Berkshire Hathaway Homestate Companies
* Kansas Bankers Surety Company
* Berkshire Hathaway Specialty Insurance
* Central States Indemnity
* GUARD Insurance
* MedPro Group
* MLMIC
* National Indemnity Company
* Berkshire Hathaway Assurance

|

Berkshire Hathaway
Reinsurance Group|

* Alleghany Corporation
* TransRe
* Berkshire Hathaway Life
* Gen Re

Railroad|

* BNSF

BH Energy|

* AltaLink
* BHE Pipeline Group
* BHE GT&S
* Kern River Gas Transmission Company
* Northern Natural Gas
* BHE Renewables
* HomeServices of America
* Edina Realty
* Long & Foster
* RealtySouth
* MidAmerican Energy Company
* Northern Powergrid
* NV Energy
* PacifiCorp

Manufacturing|

| Industrial
products|

* CTB International
* Meyn
* International Metalworking Companies
* ISCAR Metalworking
* TaeguTec
* Tungaloy
* LiquidPower Specialty Products
* Lubrizol
* Marmon
* Campbell Hausfeld
* Marmon-Herrington
* Procor
* Union Tank Car Company
* Ginsu
* World Book Encyclopedia
* Precision Castparts Corp.
* Carlton Forge Works
* Special Metals
* Timet
* Wyman-Gordon
* W&W

|

Building
Products|

* Acme Brick
* Benjamin Moore & Co.
* Clayton Homes
* Johns Manville
* MiTek
* Shaw Industries

Consumer
Products|

| RVs|

* Forest River

|

Apparel|

* Fechheimers
* Fruit of the Loom
* BVD
* Russell Athletic
* Spalding
* Vanity Fair Brands
* Exquisite Form
* Vassarette
* Garan

Footwear|

* BH Shoe Holdings
* H. H. Brown
* Double-H Boots
* Justin Brands
* Chippewa Boots
* Justin Boots
* Nocona Boots
* Tony Lama Boots
* Brooks Sports

Other|

* Duracell
* Jazwares
* Squishmallows
* Larson-Juhl
* Richline Group

Service and
Retailing Businesses|

| Services|

* Affordable Housing Partners
* Business Wire
* Charter Brokerage
* CORT Business Services
* FlightSafety International
* International Dairy Queen
* Dairy Queen
* Orange Julius
* IPS
* McLane
* NetJets
* TTI
* Mouser Electronics
* WPLG
* XTRA Lease

|

Retailing|

| Auto|

* Berkshire Hathaway Automotive

|

Furniture|

* Jordan's Furniture
* Nebraska Furniture Mart
* RC Willey Home Furnishings
* Star Furniture

Jewelry|

* Ben Bridge Jeweler
* Borsheims
* Helzberg Diamonds

Other|

* Louis
* Oriental Trading Company
* The Pampered Chef
* Pilot Flying J
* See's Candies

Major public
company ownership
positions|

* American Express (18%)
* Apple (6%)
* Bank of America (12%)
* Coca-Cola Company (10%)
* DaVita (32%)
* Kraft Heinz (27%)
* Moody's (13%)
* RH (9%)

Related|

* Oliver Chace
* Charlie Munger
* Poor Charlie's Almanack
* Berkshire Hathaway Media
* Blue Chip Stamps
* Scott Fetzer
* Wesco Financial
* Owned assets
* Becoming Warren Buffett

* Category

Authority control databases

International|

* ISNI
* VIAF

National|

* United States

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