CARSON CITY, NV--(Marketwired - Apr 20, 2017) - Turbo Global Partners (TURBO), trading as "DIBZ" (
GP Brands, Inc. is franchisor of 360 Goin' Postal pack and ship retail franchise stores that are located throughout the United States as well as smaller franchise stores within Walmart Supercenters in the Southeast.
"I am pleased to announce that TURBO closed the acquisition of Turbo Retail Management, formerly GPFC who holds the Master Lease for retail postal franchises that operate within Walmart Supercenters in the Southeast," states Bob Singerman, Chairman & CEO of TURBO. Turbo Retail Management, Inc. is the sole Sub-Lessor for GP Brands, Inc. for their retail postal store franchises within Walmart Supercenters. Turbo Retail Management, Inc. will now operate as a wholly-owned subsidiary of TURBO.
Marcus Price, President and Founder of GP Brands, praises the transaction, "It's a great fit for all parties. GP Brands can now focus on the training, site prep and systems for franchisees with retail stores in Walmart Supercenters, while TURBO can deliver scalability for expansion and additional marketing, media and technology for this tremendous postal store business model."
Robert Singerman continues, "Our core focus as a diversified investment management company is partnering with companies that have long-term predictable cash flow anywhere in the world, and this transaction represents the ideal acquisition for our growing portfolio."
About TURBO GLOBAL PARTNERS, Inc. www.TurboGlobalPartners.com TURBO is a diversified investment management company that partners with companies that generate long-term predictable long-term cash flow anywhere in the world.
About GP Brands, Inc. www.GPBrands.com GP Brands was formed in 2004 and currently is franchisor of 360 retail pack and ship retail postal stores in the U.S. as well as franchisor of retail postal stores that operate in Walmart Supercenters in the Southeast.
Statements made in this press release that express the Company or management's intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words "believe," "expect," "intend," "estimate," "anticipate," "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company's actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company's forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company's future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Robert W Singerman Chairman and CEO Turbo Global Partners, Inc. Formerly DIBZ INTERNATIONAL, INC. Direct / +1(813) 786-5400 Fax / 1(888) 417-0853
