SnugZ Sold: Mackay and Johnson Acquire 100 Percent Equity Stake in Company
SnugZ USA CEO and president Brandon Mackay and vice president Charley Johnson announced they have acquired 100 percent ownership of the company. Based in Salt Lake City, SnugZ USA produces a promotional product line that includes lanyards, eyewear retainers, personal-care items, flashlights, candle sets, picnic items and electronics.
Prior to the acquisition, Mackay and Johnson were minority owners in the company. Mackay and Johnson completed negotiations for the acquisition with two other unnamed SnugZ owners on Dec. 9.
“By becoming the sole owners of SnugZ USA, Charley and I will be in a position to move the company forward faster and more efficiently. We’re excited at the opportunity to take SnugZ USA to a whole new level,” Mackay said.
Johnson added, “During the past few years, SnugZ USA has been one of Utah’s most successful companies. We’ve grown from a small business with a handful of employees to a company that now employs over 200. What’s more, our 2007 revenue was a company record $23.5 million, and we’re going to exceed that figure in 2008. The total acquisition of SnugZ will better position our company to expand even more.” SnugZ was founded in 1989 in Salt Lake City as a family-owned business.
For more information on SnugZ USA, visit www.snugzusa.com