NWBD merger news today
New World Brands Announces Acquisition and New Senior ManagementFont size: A | A | A6:00 AM ET 10/12/09 | BusinessWire
On October 5, 2009, New World Brands, Inc. ("NWB") (OTCBB:NWBD) (www.nwbtechnologies.com) executed an asset purchase agreement (the "Agreement") pursuant to which the Company agreed to acquire certain assets of Aeropointe Partners Inc. ("API"), a Texas Corporation, and pursuant to which it was agreed that certain changes would occur in connection with the Company's Officers and Directors.
NWB has acquired certain assets of Aeropointe Partners Inc. related to the telecom carrier route portion of API's business. This allows NWB increased efficiencies when these assets are combined with its own. A significant element of this transaction was also to bring in the expertise of the Aeropointe staff and senior management. Steven Bell, CEO of Aeropointe, will be taking over the position of President of NWB and become a member of its Board of Directors. Shawn Lane, President of API, will assume the title of Chief Operating Officer of NWB. NWB will also be adding a new director of carrier sales and operations staff as result of this transaction. All new members of NWB's senior management have many years of experience in the telecommunications industry and provide complementary talents to the existing NWB management. Aeropointe Partners is located in the Dallas, Texas area and NWB will add this location as a new operating facility for NWB.
The CEO of New World Brands, M. David Kamrat, commented "I am very pleased with this new addition to New World Brands and feel that it will go a long way towards us achieving many of the goals we as a company are focused on." The effective date of the transaction is September 1, 2009 and the final executed terms to the definitive agreement were met on October 5, 2009
The combined management of the company has already identified many areas where the operations can be complementary and NWB can reap the benefits of new increased vertical integration in the marketplace. Steve Bell, the new President of New World Brands said "We are all looking forward to a stronger and more competitive company as a result of this deal and I am eager to jump to all aspects of the business." Please refer to the company's 8-K filing with the Securities and Exchange Commission on our website at www.nwbtechnologies.com and the SEC website at www.sec.gov.
