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UniverCell Holdings, Inc. (OTCBB: UVCL - http://finance.yahoo.com/q?s=UVCL.OB ) UniverCell Holdings, Inc. and Daytonabrands, Inc. announced that they have entered into a Letter of Intent to merge.
Daytonabrands is a consumer and OEM products company focusing on the $29 billion automotive aftermarket and accessories industry. The company's key management has significant consumer products experience coming from such respected companies as ArmorAll, ProTeam, ConAgra, Disney and Clorox.
Daytonabrands distributes products directly to the consumer via infomercial direct response television (DRTV) and national catalog publications such as SkyMall. Retailers include Albertson's/Sav-On Drug Stores, Costco, Ace Hardware, CSK, Schucks, Checker, Kragen, Advance Auto, AutoZone, Walgreens and others. The company also sells as OEM for branded names such as Craftsman, Genie and Shell.
Through an exclusive relationship with QMI, a recognized global leader of fuel and oil additive performance chemicals, Daytonabrands has secured the exclusive rights to their consumer products line. The company is projecting significant sales in this proven consumer category as QMI is providing not only their proprietary superior performance products but also the critical independently and Government audited test data required to support the claims.
Scott Harkness, CEO of Daytonabrands, stated, ''Our powerhouse management team consists of former ArmorAll Corporation founder, President and CEO, Alan Rypinksi and others from ProTeam, ConAgra, Disney and Clorox. Daytonabrands products are consumer proven winners and revolutionary to the industry. Our newly constructed 150 member sales team is primarily comprised of former ArmorAll sales and distribution representatives. All combined, Daytonabrands, Inc. is poised to be a significant player in the $29 billion automotive aftermarket and accessories industry.''
Sean Y. Fulda, CEO of UniverCell Holdings, Inc., commented, ''We are very pleased to have found a merger partner who will be able to significantly increase shareholder value as they establish themselves as a leader in this multi-billion dollar industry. I am confident that the company's executives, who have proven themselves in the automotive and accessories industry, will make Daytonabrands another success story like Armor-All.'' |