THE RIVAL CORP. SIGNS DEFINITIVE ACQUISITION AGREEMENT
THE RIVAL CORP. SIGNS DEFINITIVE ACQUISITION AGREEMENT KANSAS CITY, Mo., Sept. 14 /PRNewswire/ -- The Rival Co.
(NASDAQ: RIVL) announced today they have signed a definitive agreement with The Marley Co. for the acquisition of Simer Pump, a division of Marley, for approximately $9.5 million.
Simer Pump is a leading manufacturer of sump, well and utility pumps in the "do-it-yourself" market with annual sales of $22 million. Thomas Manning, chief executive officer stated, "Simer, a manufacturer of pumps, is actually an ideal acquisition to augment Rival's overall growth strategy. Simer and Rivals' hardware and home centers distribution channels are almost identical and Rival's strength in manufacturing will greatly enhance Simer's manufacturing. Additionally, Simer sales are counter-seasonal to Rival's heavy fall and winter sales." The effective date of closing is Sept. 15, 1992; whereupon Simer will become a Rival company on Sept. 16. -0- 9/14/92 /CONTACT: William Yager of The Rival Co., 816-943-4100/ (RIVL) CO: The Rival Co.; The Marley Co. ST: Missouri IN: HOU SU:
MC -- DV003 -- 9001 09/14/92 09:54 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Sep 14, 1992|
|Previous Article:||AT&T PARADYNE ENTERS INTO CO-MARKETING AGREEMENT WITH ON-DEMAND TECHNOLOGIES INC.|
|Next Article:||O'BRIEN DONATES GENERATORS TO FLORIDA RELIEF EFFORTS|