Colonel's Completes Acquisitions That Expand Presence In Truck/SUV Market
27 April 1998
Colonel's Completes Acquisitions That Expand Presence In Truck/SUV Market
MILAN, Mich., April 24 -- The Colonel's International, Inc.
, a manufacturer, distributor and retailer of automotive and
light truck parts and accessories, announced today that it had completed the
purchase of privately held Rugged Liner, Inc., Triad Management Group, Inc.,
Aerocover, Inc. and Ground Force, Inc.
Terms of the transaction were not disclosed.
Mark German, 42, founder and president of the four companies that The
Colonel's acquired, was named president of the newly formed Colonel's Rugged
Liner Co., which is a wholly owned subsidiary of The Colonel's Truck
Accessories Inc. He will be elected to the Board of Directors at Colonel's
next annual meeting.
Rugged Liner manufactures and markets aerocover truck bedcovers, over and
under rail non-skid bedliners, rugged liner bedmats, floor and cargo shields
and sport utility protective products. Ground Force manufactures suspension
handling products for light trucks and sport utility vehicles, while Aerocover
manufactures a unique tonneau cover for truck bedliners.
The Colonel's manufactures, distributes and retails such accessories as
truck bedliners, tonneau covers, caps and shells. It has 29 facilities in 14
states from which it distributes to its own stores as well as other truck
accessory retail outlets.
According to published sources, the light truck/sports utility vehicle
sector markets today accounts for more vehicles on the road than passenger
cars. The Colonel's, is focused on serving the needs of this market on a
nationwide.
The Colonel's, which only entered the track accessories market two years
ago, is believed to be the nation's third largest bedliner producer, while
Rugged Liner is believed to be fourth.
In recent months, The Colonel's has acquired sales retail/wholesale
outlets in California, Pennsylvania, Illinois, Tennessee, Maryland, Virginia,
West Virginia, North Carolina and Michigan. Rugged Liner in addition to
selling in the United States also markets internationally.
Rugged's facilities will add an estimated 15 percent to The Colonel's
manufacturing capacity and along with Rugged's innovative rapid tool change
system, will enhance and expand the combined effort's manufacturing
operations.
Mr. German has spent more than 24 years in the light truck accessory
business. He founded his first company in 1973, while still a student at Penn
State University. Since then he has launched six companies in the retailing,
telemarketing, manufacturing and exporting for the light truck market.
Earlier this year, The Colonel's acquired Eastern Off-Road Equipment,
Inc., a retailer founded by Mr. German. A prolific inventor of automotive
accessories, Mr. German holds three patents.
The Colonel's International, Inc. is a holding company for three wholly
owned subsidiaries, The Colonel's, Inc. based in Milan, Michigan, manufactures
and distributes plastic bumpers and facias to the aftermarket industry. The
Colonel's Truck Accessories, Inc., based in Owosso, Michigan, manufactures
bedliners, caps, tonneau covers and other truck accessory products and
Brainerd International Raceway, Inc. which owns and operates a multi-purpose
motor sports facility located in Brainerd, Minnesota.
This news release includes certain statements that may be considered
forward-looking under the Private Securities Litigation Reform Act of 1995.
These statements are subject to a number of important risks and uncertainties
that could cause the contemplated transactions not to occur.
SOURCE The Colonel's International, Inc.