Prime Rate Investors to Acquire Skiershop Mountain Sports…

Prime Rate Investors, an affiliate of RSN and the owners of Stowe TV-10, has signed a letter of intent to acquire Skiershop Mountain Sports, a Stowe, Vermont based Bicycle, Outdoor, and SnowSports retailer.

“The acquisition of Skiershop Mountain Sports is a crucial part of our horizontal growth in the outdoor sports and multi-media industries, adding retail and e-tail facets of exposure and pillars of revenue,” said PRRM President Dan Burgess.

Skiershop’s e-tail platform, www.skiershop.com, has been featured as “Best of the Web” on Forbes.com. PRRM is banking on predictions that as more people gain easy access to broadband internet, sales through this channel will grow at Skiershop. The deal is forecast to add more than $1.2 million in annualized revenue and to be accretive to the company's earnings.

About The Author

Teresa Hartford

Teresa Hartford Editorial & Creative Director | SGB Media teresa@sgbonline.com | 704.651.5741

Prime Rate Investors to Acquire Skiershop Mountain Sports

Prime Rate Investors, Inc. signed a letter of intent to acquire Skiershop Mountain Sports, the Stowe, Vermont based retailer of skis, bikes, and outdoor gear and apparel. Its e-tail platform www.skiershop.com is featured as “Best of the Web” on Forbes.com and continues to “lead the category” according to Ski Press USA, noting that “online sales will continue to grow” as more people gain easy access to broadband internet. U.S. online sales topped $69.2 billion in 2004 and are expected to grow by 16% in 2005.

“The acquisition of Skiershop Mountain Sports is a crucial part of our horizontal growth in the outdoor sports and multi-media industries, adding retail and e-tail facets of exposure and pillars of revenue,” said PRRM President Dan Burgess.

“We are excited about the resources and relationships that Prime Rate Investors brings to Skiershop Mountain Sports. With its infrastructure, support and cross-marketing opportunities we will be able to maximize visibility and sales potential,” said Skiershop President, Bobbie Roehm.

The deal is forecast to add more than $1.2 million in annualized revenue and to be accretive to the company's earnings, though subject to the signing of definitive agreements and customary closing conditions.

About The Author

Archives

Categories

Pin It on Pinterest

Share This