HouseHold Direct Announces Signing of Agreement To Acquire America's Hometown Brand Center, Inc.
SOUTHBURY, Conn., May 27 /PRNewswire/ -- HouseHold Direct, Inc. householddirect.com (OTC Bulletin Board: RDIM - news) announced today a signed contract acquiring America's Hometown Brand Center, Inc. of Ponca City, Oklahoma. America's Hometown Brand Center (AHBC) is currently the primary provider of appliances (also known as ''white goods''), electronics, and lawn and garden equipment to over three hundred independent retail operations across the United States.
John Folger, President and CEO of HouseHold Direct, announced today, ''This Agreement will transfer all of America's Hometown Brand Center's business assets, agreements, systems and contractual vendor relationships of the existing $18 million annual retail operation to HouseHold Direct.'' The management team of America's Hometown Brand Center, Inc. will become the centralized purchasing department of HDI.
The senior management team of AHBC has remained together in a business relationship for almost thirty years, with the majority of that time spent in various management positions within the Sears Roebuck Retail and Catalogue divisions. Some of their past positions and responsibilities include:
-- regional management of two hundred eighty-eight Sears retail stores;
-- system-wide purchasing of electronics and appliances through corporate headquarters in Chicago; and,
-- management of, and final approval for, the entire merchandising and layout of the well-known Sears Catalogue.
This combined expertise provides HouseHold Direct with a wealth of knowledge, experience and long established relationships with hundreds of ''white goods'' manufacturers including: General Electric, Global Appliance Company (White Westinghouse/Frigidaire/Tappan,) Maytag, and Whirlpool. Having a centralized purchasing and fulfillment department will now provide HouseHold Direct members with the most favorable pricing and delivery capabilities available anywhere today.
By harnessing the massive buying power of HouseHold Direct members, the Company can manage specific shopping requests and customer orders directly from the manufacturer. Using refined data warehousing and management systems, the Company can service each member with their own personal preferences.
This acquisition allows HDI to aggressively pursue the initial plan of consolidating the existing business assets of the private wholesale buying club industry into a true 21st century enterprise. HouseHold Direct is now positioned on the fast track in the retail, consumer and technology stock sectors. This agreement solidifies the Company's core mission statement of becoming '... The direct connection between thousands of manufacturers and millions of consumers ... ''
For additional investor or media information, please address all inquiries to info@householddirect.com, or to have your name and address included on the HouseHold Direct mailing list, householddirect.com.
Interested parties may contact Sierra Communications Corporation, toll free at 877-797-7979 or e-mail to ely7@gte.net.
For more online investor information, go to internetstockmarket.com.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings.
SOURCE: HouseHold Direct, Inc.
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