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BATTERY ONE-STOP REENTERS U.S. MARKETPLACE WITH PURCHASE OF 40 LOCATIONS

 TORONTO, Nov. 30 ~PRNewswire~ -- Battery One-Stop Inc., specialty retailer of batteries and battery-related products announces today that it has purchased all of the assets and business of One-Stop Battery, Inc. of Ohio. The purchase includes 40 operating locations, predominantly clustered in Florida and the eastern side of the United States. As a result the corporation will now operate 58 locations, including 18 located in major centers in Canada.
 William Dittmer, president of Battery One-Stop Inc. has led the phenomenal turn-around of the Canadian business since rejoining the corporation in April 1992. He will work closely with the U.S. management team to apply the same techniques that have proven so successful in Canada. Dittmer states: "This is a giant step forward for the corporation. We have nearly quadrupled our size and we did it at the best season of the year. Our incremental investment is recoverable within the next six months. We are now firmly anchored in both Canada and the U.S. The next step is to bring the same level of success to the U.S. that Canada now enjoys."
 In addition to the 40 operating locations, the purchase includes a number of kiosks, store fixtures and equipment that are in storage. Accordingly, the corporation can expand in Canada and the U.S. using these assets, saving approximately Cnd.750,000 of future capital expenditure. The corporation estimates that there are approximately 50 kiosks ready for use.
 The assets, valued at approximately Cnd.2,400,000, were purchased on a going concern basis from The Dollar Savings and Trust Company of Ohio, and were originally those of One-Stop Battery, Inc. In another transaction, the corporation acquired certain other assets and rights from One-Stop Battery, Inc. The total consideration paid in these transactions was cash of Cnd.132,000 and 2,400,000 common shares in the capital stock of the corporation.
 There was no assumption of debt in either of these transactions. As a result of this fact, coupled with the favorable lease terms assumed, management estimates that its break even on these newly acquired locations is as low as Cnd.100,000.
 The purchase of the business of One-Stop Battery, Inc. preempts the consummation of a master licensing agreement with One-Stop Battery, Inc. which was previously announced on July 14, 1992.
 Battery One-Stop Inc. is an Alberta public corporation with both Canadian and US shareholders. Common shares are listed and trade on the Alberta Stock Exchange under the symbol BTB.
 Alberta Stock Exchange has neither approved nor disapproved the contents of this news release.
 Trading Symbol: BTB - Alberta Stock Exchange
 -0- 11~30~92
 ~CONTACT: R. Bruce Freeman, managing director of Battery One-Stop, 416-540-4494; or fax, 416-963-8392~


CO: Battery One-Stop Inc. ST: Ontario IN: REA SU: TNM

PS -- NY014 -- 4035 11~30~92 09:18 EST
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Publication:PR Newswire
Date:Nov 30, 1992
Words:469
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