Next Inc. has announced an agreement to acquire the business of Lil Fan and affiliates, a privately held sales and marketing company located in Noblesville, Indiana. NEXT anticipates that Lil Fan will generate revenue of approximately $5 million for the fiscal year ending 2004 and continue to expand the Company’s diversity of customers and products.
Lil Fan is a full line design and merchandising company primarily focusing on children’s licensed college and motor sports products. The company currently has licenses for over 120 major university and colleges as well as the Indianapolis Motor Speedway, International Speedway Corporation, Chevrolet Racing, and Garfield amongst its other licenses.
Mr. Dan Cooke, Chairman of the Board and CEO, stated, “The Lil Fan acquisition is the latest in a series of planned strategic moves that continues to significantly enhance the Company’s market, customer and distribution position, as well as enhance shareholder value. We welcome Mr. Stan Howard, Lil Fan President, and the Lil Fan industry expert team joining NEXT.” Mr. Cooke further sated that “the Company is engaged in discussions with various equity groups in conjunction with the Company’s strategic growth.”
