Post by ToddCT on Mar 31, 2005 15:29:29 GMT -5
Prime Rate Investors, Inc. Closes on Majority Share Acquisition of Stockli Ski USA
DENVER, Mar 31, 2005 (BUSINESS WIRE) -- Majority Share acquisition of Stockli USA, LTD is expected to add more than $1.3 M in annualized revenue
(OTC.PK: PRRM) announced the company acquired a majority ownership of Stockli USA, LTD., the Denver, Colorado based distributor of Stockli skis, bikes and sportswear with ten years of operating history. Stockli is based in Wolhusen, Switzerland, where its high performance line of skis and bicycles are manufactured. Stockli Ski USA is the exclusive distributor of Stockli skis, bikes and sportswear in the U.S. Stockli supplies bikes and skis for the respective Swiss National teams, and produces signature series of pro-model skis for world class free skiers including Scot Schmidt and Dominique Perret. Schmidt pioneered "extreme" skiing in North America and is Stockli USA's primary athlete as well as head of the U.S. research and development team. "I am proud of the direction we are taking Stockli, and excited to participate in its overall expansion," enthused Schmidt. Stockli USA President Nicholas Sprung asserted, "The resources that Prime Rate Investors brings to Stockli USA will allow us to capitalize on the growing demand for Stockli, while increasing the brand's overall presence in North America."
Prime Rate Investors management noted the acquisition will be accretive to earnings and is expected to add more than $1.3 million in annualized revenues.
Prime Rate Investors (OTC.PK: PRRM) is a multi-media holding company with interests in outdoor sports, e-tail, retail, print, web, television and film. The company's strategic relationships with multi-faceted, outdoor sports entities allow it to offer diverse advertising solutions to businesses seeking multi-media exposure. Its wholly owned subsidiaries include Stowe TV-10, and Adirondack TV-33, RSN affiliated cable broadcast companies and High Angle Media, Inc., a video production company and producer of "Backcountry TV."
DENVER, Mar 31, 2005 (BUSINESS WIRE) -- Majority Share acquisition of Stockli USA, LTD is expected to add more than $1.3 M in annualized revenue
(OTC.PK: PRRM) announced the company acquired a majority ownership of Stockli USA, LTD., the Denver, Colorado based distributor of Stockli skis, bikes and sportswear with ten years of operating history. Stockli is based in Wolhusen, Switzerland, where its high performance line of skis and bicycles are manufactured. Stockli Ski USA is the exclusive distributor of Stockli skis, bikes and sportswear in the U.S. Stockli supplies bikes and skis for the respective Swiss National teams, and produces signature series of pro-model skis for world class free skiers including Scot Schmidt and Dominique Perret. Schmidt pioneered "extreme" skiing in North America and is Stockli USA's primary athlete as well as head of the U.S. research and development team. "I am proud of the direction we are taking Stockli, and excited to participate in its overall expansion," enthused Schmidt. Stockli USA President Nicholas Sprung asserted, "The resources that Prime Rate Investors brings to Stockli USA will allow us to capitalize on the growing demand for Stockli, while increasing the brand's overall presence in North America."
Prime Rate Investors management noted the acquisition will be accretive to earnings and is expected to add more than $1.3 million in annualized revenues.
Prime Rate Investors (OTC.PK: PRRM) is a multi-media holding company with interests in outdoor sports, e-tail, retail, print, web, television and film. The company's strategic relationships with multi-faceted, outdoor sports entities allow it to offer diverse advertising solutions to businesses seeking multi-media exposure. Its wholly owned subsidiaries include Stowe TV-10, and Adirondack TV-33, RSN affiliated cable broadcast companies and High Angle Media, Inc., a video production company and producer of "Backcountry TV."
