Interstate Batteries Purchases Battery Patrol Assets
17 January 2000
Interstate Batteries Purchases Battery Patrol AssetsDALLAS, Jan. 14 -- Interstate Battery System International, Inc.'s newly-formed subsidiary, Retail Acquisition and Development, Incorporated (RAD, Inc.), has acquired substantially all of the assets of John Willemsen Corporation (JWC), including 100% equity interest in Battery Patrol Franchising, LLC. Battery Patrol Franchising is the franchiser of Battery Patrol retail stores, which sell batteries and related products. Battery Patrol Franchising ceased offering new franchises during the negotiation and completion of the transaction, and it has no present intention of resuming the sale of any additional franchises. Battery Patrol Franchising will continue to fulfill its contractual obligations to the Battery Patrol franchisees. RAD, Inc.'s newly-formed subsidiary, Interstate Battery Franchising & Development, Inc. (IBFAD), has announced that it will begin the franchising of retail battery stores under the "Interstate" mark. These Interstate franchise stores will sell a full line of batteries. "This exciting new franchise concept is part of Interstate's strategic vision for the future to sell all types of batteries for every need," said Dennis Brown, President of RAD, Inc. "Our research shows that the market for batteries that power electronic devices, such as cellular telephones and portable computers, is growing much faster than the market for Interstate's traditional automotive and marine batteries." IBFAD is finalizing its franchise offering circular, which it expects to complete in the next several weeks. Once it is completed (and, where required, registered), IBFAD will begin to offer franchise opportunities nationwide. IBFAD will first offer franchises to qualified, existing Interstate Batteries independent distributors, before making offers to others in the distributor's area. "The independent distributors of Interstate Batteries have been an important part of our past success," said Tommy Miller, President and CEO of Interstate Battery System International. "We are extremely pleased that we will be able to offer qualified distributors this opportunity to participate in this new channel of distribution for the future."