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Stretchout Ltd. Announces Acquisition of Swansea Stretch Limo Co.

23 November 2000

Stretchout Ltd. Announces Acquisition of Swansea Stretch Limo Co.; Acquisition Places Company as the Largest Executive Transport Business in South Wales

    SWANSEA, Wales--Nov. 23, 2000--Stretchout Ltd. ("Stretchout"), a UK-based company that provides executive travel services to clients through the internet, today announced that they have successfully completed their acquisition of Swansea Stretch Limo Co. ("Swansea Stretch"), a Swansea-based limousine company. The acquisition will strengthen Stretchout's primary objective of becoming a market leader in the executive transport business.
    For the past three years, Swansea Stretch has been providing their limousines services to businesses in the Swansea area, as well as to individuals for special events. During this time, Swansea Stretch has earned a well-reputed and well-recognized name.
    Commenting on the acquisition, Trevor Owen, Managing Director of Stretchout, said, "Completing this agreement with such a well-established company as Swansea Stretch is a significant one for Stretchout. Not only does this enhance our position as a leader in this industry, but it will launch us into the position of being the largest executive transport business in all of South Wales."
    "I feel extremely satisfied placing Swansea Stretch in the hands of a company with such an aggressive growth strategy," said Dean Saunders, owner of Swansea Stretch. "I have every confidence that they will fulfill their goals and vision of becoming the largest executive travel company in Wales." Once the acquisition is complete, Mr. Saunders will be venturing into new pursuits unrelated to Stretchout.
    This follows Stretchout's acquisition of Executive Transport completed last month and plays a large part in their plan of continued rapid growth.