Pool Corp. to Acquire Distributor – Analyst Blog
Zacks Market Commentaries (October 8th, 2009) Writes:
Pool Corp. (POOL) announced on Monday that it will acquire privately held General Pool & Spa Supply Inc., a regional swimming pool and spa products distributor, to strengthen its market positions and leverage the latter’s technology platform and spa parts expertise.
The transaction is expected to close in mid-October. Management expects this acquisition to be accretive in 2010 earnings and beyond.
Based in Northern California, General Pool & Spa manages 10 distribution sales centers and generates approximately $40 million in annual net sales. It is a well known and a reputed distributor in the industry and has an excellent customer servicing track record.
Pool, the world's largest wholesale distributor of swimming pool supplies, equipment, and related products, posted earnings of 99 cents per share in the second quarter. The results were 9 cents above the Zacks Consensus Estimate.
Revenues for the swimming pool supply wholesaler fell 13% year over year as the company
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