12/17/07

AmeriMark makes an acquisition

AmeriMark Direct LLC is adding to its e-commerce and catalog base by acquiring Dr. Leonard’s Healthcare Corp., a direct marketer of health products, clothing, collectibles, exercise equipment, home furnishings, housewares and shoes for senior citizens.

Don Davis , Editor in Chief

AmeriMark Direct LLC is adding to its e-commerce and catalog base by acquiring Dr. Leonard’s Healthcare Corp., a direct marketer of health products, clothing, collectibles, exercise equipment, home furnishings, housewares and shoes for senior citizens.

AmeriMark, No. 296 in the Internet Retailer Top 500 Guide, used funding from its existing management and financing from New York investment banking firm JH Partners LLC to purchase Dr. Leonard’s for an undisclosed price.

Once the acquisition of Dr. Leonard’s, No. 473 in the Internet Retailer Top 500 Guide, is complete AmeriMark president Louis Giesler will become president of AmeriMark Direct and Tom McIntrye will remain as president of Dr. Leonard`s. AmeriMark Holdings will become the new parent organization of both brands with Gary Giesler as president and CEO; Diane Huzar as executive vice president in charge of marketing and merchandising for both subsidiaries; and Joe Albanese as executive vice president and chief financial officer.

"The marriage of these well-established, successful businesses that serve a similar customer is truly an opportunity to enhance both companies through many exciting synergies," Giesler says.

With the purchase, AmeriMark and Dr. Leonard’s will have combined sales in excess of $425 million and more than six million active customers over 55, the company says. AmeriMark`s operations in Cleveland and Dr. Leonard`s facilities in Edison, NJ, and Lincoln, NE, will not be relocated, the company says.

Topics:

business finance, Health Medical Pharma

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