XGEN news. It sounds like this will add another 1.2 mil in sales.
NEXGEN HOLDINGS' Paddock Pool Subsidiary Adds to Its Extensive Product Offerings Through a Joint Venture With SpaMan Spas
Paddock's Acrylic Spas Line-Up Includes the Top Brands Including: Bull Frog, Cal Spas, SpaMan, Viking and La-Z-Boy
MESA, AZ, Jul 22, 2014 (Marketwired via COMTEX) -- NexGen Holdings, Inc. (pinksheets:XGEN) announced today that it has entered into a joint venture agreement with SpaMan Spas of Arizona the state's oldest and largest Acrylic spa dealer and one of the top dealers in the country.
Under the terms of the agreement Paddock will become a SpaMan dealer and will carry the following top brands at the very best prices: Bull Frog, Cap Spas, SpaMan, Viking and La-Z-Boy. Paddock gains the 35 year experience and buying power of SpaMan. The deal does not prevent Paddock from carrying other brands and will enable Paddock to sell more Spas, at lower prices, with greater margins than before.
John Myers, CEO of both NexGen Holdings and NexGen Pools and Spas, stated, "This is a 'win-win' deal for both companies. SpaMan was looking for a north Scottsdale location and we wanted to team up with someone with the experience and buying and selling power of SpaMan."
Roger Abdin, CEO of SpaMan Spas, said, "Paddock is an iconic swimming pool brand and we are the State's leader is Acrylic Spas, it's a perfect fit to further develops both brands."
Steven Vollaro, Director of Sales for both of NexGen's swimming pool companies, said, "I am thrilled to be able to offer over 15 of the best selling Spas on the market. By combining with SpaMan we can continue to offer our customers the quality that Paddock has built its brand with while being able to do it at even better prices.
Steven continued, "Paddock has not had a spa line for quite a few years but as a SpaMan dealer Paddock hopes to regain its leadership role in this market and again sell over 130 Spas per year, or more from its Scottsdale location and generate at least another $1.2 million in annual sales."
