Keeping an eye on it......................................A1
Gateway Distributors, LTD Closes Acquisition of Marshall Distributing, LLC; Acquisition of Salt Lake City Based Distribution Company Forecasted to Generate $2.5 Million in Revenue, Double Company Earnings
Business Wire - August 07, 2006 09:02
LAS VEGAS, Aug 07, 2006 (BUSINESS WIRE) -- Gateway Distributors, LTD (OTCBB:GWDB) announced the Company closed its acquisition of Marshall Distributing, LLC a health supplement distributor based in Salt Lake City, Utah. Marshall owns and operates an e-commerce site, real estate and distribution center, all of which are included in the deal, also forecasted to increase the Company's 2006 revenues by 100% from 2005 to over $5 million.
"We are excited about this cost-effective acquisition for many reasons. Facilitated by Company-owned stock (of Cal Bay International - (OTCBB:CBAY)), the acquisition of Marshall will bolster both our balance sheet and bottom line by bringing assets to the table and doubling our revenue," said Gateway President and CEO Rick Bailey.
The acquisition is forecasted to generate $2.5 million in revenue for the Company.
"Additionally, Marshall's distribution center will now streamline our current fulfillment needs, while increasing the Company's overall product inventory from 29 unique products to more than 6,000. This is a big day for Gateway," Bailey concluded.
Additional information can be found at: www.rightsolution.com and www.marshalldc.com
