The private Northwest Territorial Mint has acquired the Medallic Art Company, it announced July 22.
It is through the minting of commemoratives for the military and Fortune 500 companies as well as being a reputable precious metals dealer that the firm says it was able to strategically expand its capabilities with the acquisition.
Northwest Territorial Mint will move into Medallic Art’s Dayton, Nev., headquarters and assume stewardship of its inventory, archives and 118,000-square-foot minting facilities. Northwest plans to make Dayton its corporate headquarters later this year.
“This is truly a case of the sum being greater than its parts,” said mint CEO Ross Hansen.
The 106-year-old Medallic Art Company is responsible for reproducing bas-relief masterpieces by American sculptors as well as producing the Pulitzer Prize medal, Medal of Honor and inaugural medals for numerous U.S. Presidents.
As many as 100 employees from the firm’s current headquarters in Auburn, Wash., will make the move to Dayton to centralize production.
The company says it will make 75-150 local hires, probably beginning in September.