CARSON CITY, NV--(Marketwired - Apr 25, 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, smaller Goin' Postal® franchise stores within Walmart Supercenters in the Southeast, and newly introduced boutique Goin' Postal® franchise kiosks within independent pharmacies in Florida.
"I am pleased to announce that TURBO has executed an option to acquire GP Brands, Inc., franchisor of the Goin' Postal® pack and ship retail franchises," states Robert Singerman Chairman & CEO of TURBO. He continues, "With their 360-store national franchise network, Goin' Postal® pack and ship retail franchise stores serve the needs of hundreds of communities in the U.S. and this business model generates long-term renewable predictable cash flow, the ideal acquisition for our portfolio. Our option to acquire the company includes all assets such as proprietary point-of sale systems and software, trademarks, licenses, a training university, and a fabrication operation that produces the store components for custom store buildouts. The bottom line is we look forward to completing this tactical acquisition as it will add $2MM to $3MM EBITA to our income statement once the acquisition is completed."
Marcus Price, President and Founder of GP Brands, praises the transaction. "Signing the option with TURBO to be acquired in total is the natural progression of our relationship on the heels of TURBO's recent acquisition of our Walmart Supercenter Master lease. It is truly a great fit for all parties. With our acquisition completed, GP Brands will focus on the on-going training, site prep and systems for all our franchises, while TURBO can deliver scalability for expansion of all our franchise models, and at the same time, deliver marketing, mobility, promotions and advertising, and an in-store television network."
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, and recently introduced boutique franchise kiosks within.
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
