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Microcap & Penny Stocks : Pacer Technology (PTCH) -- Ignore unavailable to you. Want to Upgrade?

To: swoboda4 who wrote (360)	3/4/1998 8:26:00 AM
From: BlueCheap	Read Replies (1) \| Respond to of 726

Pacer Technology Acquires Leading Manufacturer of Nail Clippers, Emery Boards and Related Manicure Products Acquisition of Assets of Cook Bates to Add $20 Million in Revenue RANCHO CUCAMONGA, Calif.--(BUSINESS WIRE)--March 4, 1998--Pacer Technology (Nasdaq:PTCH - news), owner of such branded consumer products as Super Glue, ZAP and PRO SEAL, Wednesday announced that it had acquired certain assets of Cook Bates, a Florida-based manufacturer and marketer of nail clippers, emery boards and other related manicure implements. Cook Bates is a division of London International Group Inc. Cook Bates, founded in 1896, has been a long-standing leader and innovator in the design, manufacturing and marketing of an extensive line of manicure products. These products are marketed under such name brands as Gem and Mr. Mustache. The company holds numerous patents and also licenses such brand-name products as Oleg Cassini and Brut. Cook Bates is also the leading private-label supplier in this category. The all-cash transaction was funded by the company's existing credit facility. Pacer Technology President and Chief Executive Officer James Munn said the deal would add approximately $20 million in new revenue to Pacer and contribute positively to earnings on a pro forma basis, adjusted to exclude one-time charges related to the acquisition. Pacer has a long track record of steadily increasing revenues and profitability. Sales have more than doubled since 1992 while operating income has tripled. Pacer's revenues and net income for the year ended June 30, 1997 were $25.7 million and $1.2 million, respectively. ''We are delighted to acquire Cook Bates which was divested by its parent company, thereby allowing it to focus on its medical and industrial gloves and condom businesses,'' said Munn. ''Not only does this fine company make excellent products, but it is extremely strong in retail distribution ''This acquisition will open up key shelf space for Pacer's existing products and offer us the opportunity to leverage our global distribution and marketing capabilities by cross-selling Cook Bates' products with ours,'' he added. Munn said the Cook Bates operations would be integrated with Pacer's Southern California and Memphis facilities. ''We look forward to integrating the Cook Bates product line into the Pacer family of products,'' said Munn. ''We believe there are tremendous synergies with our marketing, manufacturing and distribution capabilities. ''Cook Bates products are distributed in over 20,000 outlets including mass merchandisers and drug and grocery chains. These include such customers as Wal-Mart, Kmart, Walgreens and Rite-Aid,'' explained Munn. Pacer is a manufacturer and worldwide marketer of advanced technology adhesives, sealants and related products for a variety of consumer, industrial and automotive applications. It is the provider of Super Glue, ZAP, PRO SEAL, and other well-known branded products. For more information about Pacer via facsimile call 800-PRO-INFO and dial client code ''PTCH.'' Except for historical information contained herein, the matters set forth in this news release are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth herein in the forward-looking statements, including such factors, among others, as significant fluctuations in operating results, uncertain market acceptance of the company's products and intense competition. Contact: Pacer Technology, Rancho Cucamonga Roberto J. Cavazos, Jr., 909/987-0550