NEVADA BOB'S CANADA INC. ACQUIRES THREE PACIFIC NORTHWEST, USA FRANCHISES AS PART OF ITS
AGGRESSIVE GROWTH PROGRAM
(SYMBOL NBC - ASE)
CALGARY, AB, April 21 /CNW/ - Nevada Bob's Canada Inc. today continued its aggressive expansion program with the strategic acquisition of three Nevada Bob's franchises in Washington State, USA.
The acquisitions - in Bellevue, Kent, and Lynnwood, Washington State - represent Nevada Bob's Canada's initial entr‚e into the United States, in one of the fastest growing regions of the USA.
''This strategic initiative closely follows our acquisitions of the Master Nevada Bob's Franchise for Eastern Canada, the consolidation of 23 Western Canada Nevada Bob's stores under corporate ownership and control, and last week's acquisition of a major competitor in Surrey, British Columbia,'' said Lyle P. Edwards, President and Chief Executive Officer of Nevada Bob's Canada.
In the past six months, Nevada Bob's Canada has been on a strong growth path, announcing an aggressive program to more than double its network of retail specialty golf pro shops to 80 to 100 stores over the next five years and announcing immediate plans to open 10 new stores in Alberta and British Columbia and renovate 8-10 major market stores by the end of May.
There are currently 48 Nevada Bob's stores in Canada and the company's common shares and debentures have recently been conditionally approved for listing on the Toronto Stock Exchange with trading expected to commence in the near future.
''The Pacific Northwest is a critical beachhead for Nevada Bob's
Canada,'' said Kevin R. Baker, QC, Chairman. ''It has a vibrant economy that is home to industry leaders in commercial aerospace, software, and biotechnology, and it is also home to some of the most voracious and enthusiastic golfers in North America.''
''These combine to drive the economy and that drives retail sales,'' Mr. Baker said. ''In recent years, strong population gains and demand for information services have created a booming non-manufacturing sector in the Pacific Northwest which has resulted in total employment gains outpacing the USA national average,'' he said.
''We are continuing to aggressively execute our growth strategy and establish Nevada Bob's position as the dominant specialty retailer of golf equipment, fashions and accessories,'' said Mr. Baker.
''We have clearly set the standard for golf retailing across Canada,'' said Mr. Edwards, ''and with these acquisitions, we take a proven format, business expertise and management team into one of the highest growth areas in North America.
''We are positioning Nevada Bob's as the one source for everything golf and these acquisitions, our expansion plans and a new retailing format we have unveiled are integral parts of that positioning,'' said Mr. Edwards.
Nevada Bob's Canada Inc., is a public company whose shares trade under the symbol NBC and whose convertible debentures trade under the symbol NBC.DB on the Alberta Stock Exchange.
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For further information: Kevin R. Baker, QC, Chairman of the Board,
Nevada Bob's Canada Inc., (403) 294-0600; Lyle P. Edwards, President & Chief Executive Officer, Nevada Bob's Canada Inc., (403) 294-0600 |
