Guess & Co. Corporation Pursuing Acquisitions of Middle Market Companies
(Thomson Reuters ONE) -
Guess & Co. Corporation Pursuing Acquisitions of Middle Market Companies To
Build Its Operations
Raleigh, NC, Aug. 18, 2017 (GLOBE NEWSWIRE) -- Guess & Co. Corporation a luxury,
industrial, health care and real estate company based in North Carolina
announced today that it is pursing acquisitions to build and grow its busines
operations. The company is pursuing middle-market companies that will build and
enhance its luxury, industrial, health care and real estate groups. Guess & Co.
Corporation is projecting $250 million in consolidated gross revenue and $50
million in consolidated pre-tax net income for the year ending December
31, 2017. For the year ending December 31, 2018, the company is anticipating
overall revenue of $1 billion and consolidated pre-tax net income of $200
million. The company has included expected acquisitions as part of those
projections.
Guess & Co. Corporation intends to acquire companies that are generating between
$10 million and $125 million in gross annual revenue. In acquiring exisiting
companies in the middle market, Guess & Co. is looking to build its various
business operations. After acquiring the companies, they will become part of a
respective unit of Guess & Co. Corporation. The company intends to leave most
management teams in place, but would expand those teams to include additional
management professionals specializing in strategy, marketing, business
development, sales, administration, finance and compliance. Acquired companies
will be allowed to operate semi-autonomously within their business unit, while
management will be under the direct supervision of the group head. Guess & Co.
Corporation employs a roll-up strategy to grow acquired companies, in which it
looks to acquire competitors of the acquired company as an add-on transaction to
expand product offerings, service capabilities, and capacity resulting in
substantial revenue growth. Additionally, Guess & Co. Corporation deploys sales
forces that are trained to cross-sell to corporate, government, and retail
customers across business lines, while having separate sales forces that
specialize in certain business areas to ensure superior customer satisfaction
and increased revenue.
"Acquisitions are a fundamental part of our overall business strategy which
allows us to build our business units with existing operations and effectively
compete in the marketplace," the company issued in a statement. Management of
Guess & Co. Corporation is committed to acquisitions as a long-term business
strategy for the company. "We anticipate acquisitions being a continuing part of
our business plan," the company added. As a privately-held company, Guess & Co.
Corporation will finance acquisitions through a combination of equity
arrangements with selling shareholders and asset-based financing. Joint
ventures, public companies, private companies and distressed companies are
possible acquisition targets for Guess & Co. Corporation. The company is
exploring acquisitions throughout the U.S. and abroad and expects several
companies to be acquired by the end of 2017, with many more acquisitions
occuring in 2018.
About Guess & Co. Corporation
Guess & Co. Corporation is a diversified company with four primary business
units which are the luxury group, the industrial group, the health care group
and the real estate group. We are based in Raleigh, North Carolina and conduct
business in the United States and abroad. Most of our businesses are built
organically, and we pursue acquisitions of existing companies that will enhance
our operations.
Attachments:
A photo accompanying this announcement is available
at http://www.globenewswire.com/NewsRoom/AttachmentNg/e96f5b5c-a063-4330-abd4-
fdb3d8ee190b
Media Relations
Guess & Co. Corporation
984-201-6390
media(at)guessandco.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Guess & Co. Corporation via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 18.08.2017 - 18:18 Uhr
Sprache: Deutsch
News-ID 557085
Anzahl Zeichen: 4643
contact information:
Town:
Raleigh
Kategorie:
Business News
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