Press Release:EB Brands™ Acquires Leading Producer Of Fitness AccessoriesYonkers, NY – November 15, 2002 - EB Brands™ recently acquired Sportline, the leading producer of pedometers and stopwatches in the sporting goods market for an undisclosed amount. EB Brands™ is a leading producer of accessory and gift products for the travel, golf, automotive, fitness, grooming and wine markets. EB Brands sources products in Asia through its 50-person facility in Hong Kong, generating over $100 million in revenues from retailers in the U.S., Canada and Europe. Sportline represents EB Brands' second acquisition since it was acquired by Milestone Partners in June, 2000. The acquisition was Milestone's seventh transaction involving entry-level consumer products companies. Milestone Partners is a middle market private equity group based in suburban Philadelphia, Pennsylvania. Milestone works closely with senior management to grow businesses both organically and through acquisitions. Since its inception in 1995, Milestone has completed approximately twenty acquisitions, including add-ons. Typical transactions provide capital to support ownership transitions, management buyouts, recapitalizations and/or growth plans. Milestone seeks to acquire controlling interests in profitable, middle market companies in the $10 million to $50 million valuation range. The group's primary focus is on companies with high quality management, stable cash flow and expansion potential, either through internal growth or industry consolidation. |
