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Bentonville, AR - Brass Eagle, Inc. (NASDAQ: XTRM) the worldwide leader in the manufacturing, marketing and distribution of paintball products announced that it completed the acquisition of JT USA, LP of Chula Vista, CA. The terms of the deal were not disclosed.
JT USA is a leading manufacturer of protective accessories and apparel for the paintball industry. The JT USA product line, regarded as the benchmark in the industry, includes masks, goggles, active and casual apparel and protective gear primarily distributed through traditional paintball fields.
As previously disclosed, JT USA will continue to manufacture its core line of products under the JT label as well as produce masks and accessory products for Brass Eagle. JT USA will retain its headquarters and manufacturing facility in California and operate as a division of Brass Eagle. In addition, John Gregory, founder and President of JT USA, has signed a long-term agreement in which he will remain on as a consultant.
John Gregory, JT USA President and CEO commented, "We are happy to see JT associated with a company who will have the financial power and organization to take JT products to the next level. The combination of JT's R&D capabilities and marketing savvy coupled with Brass Eagle's sales and distribution experience is extremely compelling in my opinion, and will open up many opportunities for our customers and employees, alike. It will be exciting to watch JT move into the next dimension. It's truly a win-win situation for all parties involved."
Lynn Scott, Brass Eagle President and CEO stated, "We are excited about acquiring another premier brand and believe this represents an ideal partnership for Brass Eagle going forward. JT USA is recognized as a cutting edge, innovative, product and marketing driven company not only within the paintball industry, but also in the overall extreme sports market. With the acquisition, we have the opportunity to take advantage of JT's trendsetting image in the youth market, as well as its strong relationships in the traditional paintball market. Similarly, JT USA can leverage off Brass Eagle's extensive retail distribution network."
Mr. Scott concluded, "Our core business remains solid. Furthermore, we have made a number of strategic acquisitions over the past year, including CM Support, Challenge Park Xtreme and now JT, which further establishes Brass Eagle as the dominant player in the paintball industry and better positions the Company for the future. With our growth plans in place and the liquidity to execute our strategic plans, we look forward to profitabiliy capitalizing on the opportunities that lie ahead."
Brass Eagle is unique
in providing a full line of paintball markers and accessory products from
beginner through competition level. The Company is the dominant supplier
of products for this rapidly growing sport. Brass Eagle has been
named one of the "Top 100" Hot Growth Companies by Business Week magazine
and one of the IW Growing Companies 25, America's Most Successful Small
Manufacturers by Industry Week Magazine.
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