Image Worldwide Acquires St. Louis Packaging
Wednesday, February 04, 2009
Press release from the issuing company
IMAGE Worldwide, Inc. has completed the acquisition of St. Louis Packaging, Inc. and STL Graphics Group. St. Louis and STL have had extensive experience and success in the packaging, printing, and mailing industry. The combined forces of St. Louis, STL, and IMAGE strengthen the company's ability to provide quality products and services to its clients while increasing revenues and profits instantly. IMAGE Worldwide, Inc. has also sold Club Oasis and elected
Steven St. Louis
as the new CEO.
St. Louis Packaging, Inc. has been in business for over 12 years and has increased revenues and profits every year. St. Louis Packaging had over $5,000,000 in revenues and over $ 300,000 in net profits in 2008. (These numbers are unaudited and based on tax returns).
The new and improved IMAGE Worldwide, Inc. has 4 current divisions: IMAGE Chicago Magazine & Promotions, All Pro Networks (IT Solutions), St. Louis Packaging, Inc. and STL Graphics Group. IMAGE Worldwide, Inc. is projecting revenues over $6,000,000 with net profits over $300,000 for 2009, and over $7,000,000 revenue with over $400,000 in net profits for 2010.
The acquisition combines a successful packaging and printing company with an established media, marketing, and IT solution company. The combined companies improve the vertical integration of the business units and will focus on cross promoting, cross marketing, and cross selling multiple brands and products while sharing resources to utilize the economies of scales and aggressively pursue additional cost savings and revenue building opportunities to create more value for shareholders.
Invicta Group, Inc. will still be an important client for IMAGE and with the addition of the printing and mailing company both companies expect improved net results.
Former IMAGE CEO
said, "My top priorities have always been to find ways to improve this company and help increase shareholder value. I have accomplished both of those goals today. This acquisition continues to add to the diversified revenue sources and is an incredible opportunity to help the company increase current and future revenues and profits while sharing resources and increasing shareholder value. This deal takes a young growing company with millions of website hits, a large database, reputable brands, and a solid foundation to build from and adds a very successful company in St. Louis and STL. The shareholders have a lot to be happy about today."
New CEO of IMAGE Worldwide, Inc.,
Steven St. Louis
, said, "By combining our resources and I am confident that this deal will allow our divisions to build upon a profitable company and continue growing. We are actively pursuing a number of opportunities and possible acquisitions with companies with good synergy to help maximize our shared resources and cross marketing business model and I expect a lot of positive changes."