Printer Friendly

LESLIE'S POOLMART COMPLETES ACQUISITION OF SANDY'S POOL SUPPLY

 LESLIE'S POOLMART COMPLETES ACQUISITION OF SANDY'S POOL SUPPLY
 CHATSWORTH, Calif., Sept. 1 /PRNewswire/ -- Leslie's Poolmart (NASDAQ: LESL) today announced the completion of its acquisition of Sandy's Pool Supply Inc.
 The acquisition involved the purchase of all outstanding stock of Sandy's, with total consideration of approximately $2 million. In addition, Leslie's refinanced $2.5 million of Sandy's term debt.
 Brian McDermott, president of Leslie's, said, "This transaction marks yet another milestone in our recent pattern of rapid growth and significant market share gains. Our extensive knowledge of the Sandy's operation leaves us highly confident about a successful integration and a profitable result for Leslie's shareholders."
 Sandy's, headquartered in North Hollywood, Calif., retails swimming pool supplies through a chain of 20 stores located in California, Texas, Pennsylvania and Ohio, as well as through a nationally distributed mail-order catalog. For the year ended May 31, 1992, Sandy's sales approximated $15 million.
 McDermott added that the retail store and mail-order businesses will ultimately be integrated to operate under the "Leslie's Swimming Pool Supplies" name.
 Founded in 1963, Leslie's Poolmart is the country's leading specialty retailer of swimming pool supplies and related products. The company currently markets its products through 150 retail stores in 26 states and a nationwide mail-order catalog.
 -0- 9/1/92
 /CONTACT: Brian P. McDermott, president, or Hugh Pierce, CFO, of Leslie's Poolmart, 818-993-4212/
 (LESL) CO: Leslie's Poolmart; Sandy's Pool Supply Inc. ST: California IN: REA SU: TNM


JL-EH -- LA015 -- 5468 09/01/92 13:16 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 1, 1992
Words:246
Previous Article:ITT ELECTS ANN REESE SVP AND TREASURER
Next Article:OSHMAN'S ANNOUNCES AGREEMENT WITH THE CIT GROUP/BUSINESS CREDIT, INC.
Topics:


Related Articles
LESLIE'S POOLMART OPENS 26 NEW STORES
LESLIE'S POOLMART ANNOUNCES FIRST QUARTER RESULTS
LESLIE'S POOLMART ANNOUNCES AGREEMENT TO ACQUIRE SANDY'S POOL SUPPLY
LESLIE'S POOLMART NAMES CHIEF OPERATING OFFICER
LESLIE'S POOLMART ANNOUNCES THIRD-QUARTER EARNINGS
LESLIE'S POOLMART REPORTS 1992 YEAR-END RESULTS
LESLIE'S POOLMART ANNOUNCES FIRST QUARTER RESULTS AND APRIL SALES
LESLIE'S POOLMART ANNOUNCES MAY SALES RESULTS
LESLIE'S POOLMART ANNOUNCES JUNE SALES RESULTS
LESLIE'S POOLMART ANNOUNCES SEPTEMBER SALES, PROBABLE THIRD-QUARTER EARNINGS SHORTFALL, AND COST IMPROVEMENT PROGRAM

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters