Pink Sheets Penny Stocks News
Jul 23, 2008 11:38:00 AM
NORTH WILKESBORO, NC -- (MARKET WIRE) -- 07/23/08 -- Expo Holdings, Inc. (PINKSHEETS: EXPH), a holding Company, which wholly owns D&D Displays, Inc., is pleased to announce it has signed a binding letter of intent to acquire Southern Candle. This acquisition is the 1st of three to reach this stage. Consummation of this acquisition is expected to be completed within 2 weeks.
Southern Candle, Inc. is located at the base of the Blue Ridge Mountains in North Wilkesboro, North Carolina. The company's products are sold by hundreds of retail locations throughout the US such as JR Tobacco and The Paradies Shops. The candle and gift item industry is a $5B a year industry. Southern Candle, Inc. has an established nationwide network of distributors, and retail relationships that can benefit Expo Holdings, Inc. and its subsidiaries. With over $5M in revenues Southern Candle is a welcomed addition to the Expo family.
Randy Whittington, Southern Candle CEO, stated, "We are pleased to join the Expo team. The Giftware industry is fixture intensive, and our new partnership, will allow us to expand our market penetration in a cost effective and efficient manner by utilizing Expo's manufacturing capabilities and space."
Gary Jordan, Southern Candle President, stated, "I too am pleased to join the Expo team. We believe our nationwide contacts and sales-force within the giftware industry will prove most useful for the D&D Displays division."
James D. Brown, Expo Holdings CEO, stated, "Expo Holdings was founded in 2006 to acquire and operate companies that sell to or distribute products for the retail industry. We are pleased that this portion of our acquisition strategy is nearing completion. We intend to capitalize on the relationships and customer base of Southern Candle, while providing them the necessary logistical support, including product displays, and graphics. Additionally, our infrastructure will be strengthened by the addition of their team. I fully expect this acquisition to positively impact our balance sheet and bottom line."