Golden Applexx STOPNGO Line Acquires Pen Station Inc.
In an effort to diversify its product line, Los Angeles-based Golden Applexx’s STOPNGO line has acquired Pen Station Inc. Both manufacturers carry a wide variety of writing instruments and promotional products. Financial terms of the purchase were not disclosed, but Golden Applexx will not be assuming any liabilities as part of the agreement. “We have been discussing the deal for quite some time now, and feltin this economy, it would be mutually beneficial to combine our efforts,” said Jeffrey Lee, vice president of STOPNGO Line. “The acquisition will help attract new people to the company. We believe their brand to be valuable.”
According to Lee, property, equipment and customer records will all be consolidated into one location. “All of our operations will be combined to our current facility,” Lee added. Combined, STOPNGO Line and Pen Station estimate significantly higher annual revenues. The acquisition was conducted as a cash buyout. “We were definitely down last year, but we had budgeted ourselves well throughout the year and came across a great opportunity,” said Lee. “We’re very excited for the coming months and will be contacting Pen Station customers individually to ensure a smooth transition from one supplier to another.”
Golden Applexx Co. Inc.’s STOPNGO Line, which currently employs around 40 people, was founded in 1986 and continues to provide customers with a wide selection of economic promotional solutions.
For more information on STOPNGO line, visit www.stopngoline.com.