WINNIPEG, MANITOBA--The Arctic Group Inc. announced today that the Company has completed the acquisition of all
the related assets of Marshall, Minnesota-based ice producer and distributor, Diamond Clear Ice.
Diamond Clear Ice has a production facility in Marshall, Minnesota and distribution facilities in Sioux Falls and Aberdeen,
South Dakota and St. Cloud and Barnesville, Minnesota. The company has annual sales of $4,000,000 CDN and services
approximately 1500 accounts in Minnesota, South Dakota, North Dakota and Iowa.
''The acquisition of Diamond Clear broadens our distribution network in western Minnesota and eastern South Dakota, '' said
Robert Nagy, Arctic Group Chairman and CEO. ''This operation will become an integral component of our north central US
distribution system working together with recently acquired North Star Ice in Minnesota, Krieg Boys Ice in Iowa, and Valley
Ice in Nebraska''. ''Our focus is to acquire operations like Diamond Clear that create synergies; contributing to the efficiency
and profitability of our existing subsidiaries. The purchase of Diamond Clear is an excellent fit with Arctic's strategy of doing
accretive acquisitions in markets contiguous to those in which the Company already has a presence.''
The Arctic Group is one of North America's largest ice companies with operations that encompass all of the major markets in
Canada and service a substantial segment of the central United States. The acquisition of Diamond Clear Ice is a further step in
the execution of Arctic's business plan to consolidate the North American industry. Consistent with past acquisitions, the
Diamond Clear transaction maintains Arctic's focus on product quality and profitability.
(Signed) On behalf of the Management and the Board of Directors of The Arctic Group Inc., Robert Nagy, President & CEO.
Contact:
The Arctic Group Inc.
TOLL FREE at 1-888-573-9237
The Arctic Group's Web Site at - arcticgroup.com. |
