Evergreen Enterprises, Inc. Completes Asset Acquisition of Team Sports America, Inc.
RICHMOND, VA (September 6, 2011) –
Evergreen Enterprises, Inc. (“Evergreen”) announced today that it has acquired substantially all of the assets of Team Sports America, Inc. (“TSA”), a leading provider of licensed home and garden products located in Memphis, TN. The transaction is a strategic acquisition of a complementary business offering licensed sports products, effectively tripling Evergreen's current Collegiate and NFL product portfolios and bringing new product licenses from the MLB and NHL.
“The completion of this acquisition represents a significant step for Evergreen in our strategy to bring our customers more exclusive products,” said Frank Qiu, Chief Executive Officer of Evergreen. “With over 4,000 licensed sports product SKUs combined, today we are significantly better positioned to act as a one-stop-shop for national and independent retailers seeking year-round sports solutions and contiguous sports offerings,” continued Mr. Qiu.
TSA will continue to operate out of its Memphis, TN facility and key sales, operations, and customer service personnel will join the Evergreen team.
“The TSA team is excited to partner with Evergreen,” said Michael Sockel, Executive Vice President of TSA. “Evergreen's in-house sales force is a tremendous new resource, which will facilitate incremental growth by allowing us to serve a wider customer base,” continued Mr. Sockel.
Both TSA and Evergreen customers will continue to receive the high level of service to which they are accustomed, and they can expect access to the newly combined product portfolio by October 1, 2011. For a full product offering, retailers are encouraged to contact their local Evergreen sales manager.
The acquisition takes effect during Evergreen's eighteenth year. Terms of the transaction were not disclosed.
For additional information contact John Toler at 800-774-3837 or firstname.lastname@example.org