Acquisition of Los Angeles Art Glass Corporation (LAAGCO SALES) Seen As Key To Continued Growth Plans
KIRKLAND, Wash., Jan. 18 -- Paint Sundries Solutions, Inc. (Paint Sundries Solutions) announced today that it had reached a definitive agreement to acquire Los Angeles Art Glass Corporation (LAAGCO SALES) of Los Angeles, Calif.
The agreement brings together two of the leading distributors of paint sundries in the Western United States and further consolidates the paint sundries distribution industry.
Don Walker, President and CEO of Paint Sundries Solutions, said, "Paint Sundries Solutions can now offer customers throughout the Western U.S. the same high level of consistent service, experienced sales force and broad range of products that our company is known for. We are committed to improvements in technology that continue driving down the cost of distribution and bringing value to our customers by delivering the right product at the right time at the right cost."
Paint Sundries Solutions will now operate distribution centers in Seattle, Wash., Salt Lake City, Utah and Los Angeles, Calif. The LAAGCO acquisition is a strategic move aimed at expanding the company's growing business in Southern California and other states in the Southwest. This move follows closely the 2006 merger of Paint Sundries Solutions (formerly Tri-W Distributors) and Paint Sundries Supply. In addition, the formation of One Source Sundries, a marketing partnership with Lancaster Distributing Company of Spartanburg, S.C., gives Paint Sundries Solutions the capability of shipping to customers nationwide.
Bill Izakowitz, President and CEO of LAAGCO, said, "We all live and work in an era of consolidation and increasing competition. I have known the people at Paint Sundries Solutions for over 20 years. I have been in buying and marketing associations with them, and our companies have very similar business cultures. I know them to be fair, honest, and forthright in their business relationships. After a great deal of soul searching, my family and I believe this transaction will be very beneficial to my employees and Paint Sundries Solutions."
Walker added, "we feel very fortunate to be teamed up with LAAGCO, and we are proud to be associated with the successful company that Bill and his team have built. As we move forward in 2007, we will continue to look for companies with a strong focus on customer service, proven relationships in the market, and an experienced sales force that can help us meet our long term goals of continued growth and increased value for our customers."
Paint Sundries Solutions will directly manage the merchandising and logistics of over 10,000 brand name paint related products for more than 3,500 retail customers including paint and hardware stores, lumber yards and mass merchants. The company will continue to serve non-traditional customers in the drywall and concrete tool markets as well.
Terms of the deal were not publicly disclosed.
About Paint Sundries Solutions, Inc.
Paint Sundries Solutions, Inc. is the leading provider of merchandising and logistics management services in the paint sundries industry. With operations throughout 13 Western States, Paint Sundries Solutions, Inc. strives to provide highly effective revenue maximizing services to more than 3,500 customers.
Source: Paint Sundries Solutions, Inc.
CONTACT: David Lim of Paint Sundries Solutions, Inc., +1-425-897-8130
Web site: http://www.paintsundries.com/