Thursday, September 27, 2007
Dallas-based Titan Global Holdings to acquire USA Detergents
The company expects to increase the division's revenues by $60 million in 2008.
DALLAS Titan Global Holdings, Inc. announced today that the Board of Directors have authorized the company’s counsel to provide written notice of its option to exercise the purchase of 80% of the outstanding stock of USA Detergents, Inc. Titan management has also identified significant business development opportunities for revenue and earnings acceleration for USAD. Titan anticipates the closing will take place within the next five business days.
USAD distributes mixed truckloads of nationally-recognized laundry, cleaner and candle brands at attractive prices and in unique merchandising configurations. By leveraging brand extensions and licensing agreements with consumer product conglomerates, USAD's brands include Xtra, Arm & Hammer, Aim, Close-up, Pepsodent, Betty Crocker, Snapple, Fine Care, Brillo, Touch of Glass, Fabulous and Oxymax. Consistent with the distribution focus of Titan's other divisions, USAD's distribution footprint serves small and mid-sized retailers, wholesalers and distributors that serve metropolitan areas in the U.S. and internationally.
“As I have previously stated, we identified immediate synergies with Titan’s existing distribution, products and services,” said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. “As our existing business units reach 60,000 independently owned retailers and 5,000 convenient store locations, we have inherent opportunities to add USAD’s products to our established channels. With USAD's experience and our extensive resources and capabilities, USAD will be a tremendous addition to Titan Global Brands.”
Source: Titan Global Holdings