Detwiler Fenton Group, Inc. Completes the Acquisition of The Rugged Bear, Inc.
11 Fevereiro 2010 - 9:21PM
Business Wire
Detwiler Fenton Group, Inc. (“Detwiler Fenton Group”)(Pink
Sheets:DMCD), via a newly formed entity, The Rugged Bear Company,
today announced that it has completed the acquisition of The Rugged
Bear, Inc.’s children’s clothing business. The Rugged Bear® is a
leading designer and retailer of high-quality, affordable
children’s clothing and outerwear in the Northeast United States.
Rugged Bear® sells its products in 26 retail locations located in
six states, as well as through its website, www.ruggedbear.com.
The acquisition, which was led by Detwiler Fenton Group on
behalf of a group of investors, represents the first transaction
for the recently established Merchant Banking Group of Detwiler
Fenton Group’s primary operating subsidiary, Detwiler Fenton &
Co. (“DFC”), a FINRA member broker dealer.
Commenting on the announcement, newly installed President and
Chief Executive Officer of The Rugged Bear® business, Garrett
Larson, said “Over the last 30 years, The Rugged Bear® has become
one of the most well-known and highly respected retail brands in
the New England area. This acquisition represents a unique
opportunity for us to improve upon The Rugged Bear® concept and
expand our presence both within New England and, eventually, into
other regions across the United States.”
Alan McDonough, the founder of The Rugged Bear®, stated, "This
transaction will allow The Rugged Bear® to capitalize on the
strengths of the new management group and continue to provide the
high-quality, competitively priced products for which the company
has been known for the past 30 years. We are thrilled that the
wonderful tradition of The Rugged Bear® will continue and thrive
into the future.”
Alex Arnold, Executive Vice President of Detwiler Fenton, added,
“We are extremely excited to work with Garrett Larson to leverage
our expertise in the consumer and retail sector and propel the
Rugged Bear® brand to the next level in the retail
marketplace.”
About The Rugged Bear, Inc.
The Rugged Bear® is a chain of retail children’s clothing stores
located in the Northeast US. For the last 30 years, Rugged Bear®
has offered high-quality, value-priced, durable and fashionable
children’s active wear to families in New England, New York and New
Jersey. Rugged Bear® was founded in 1980 by Alan McDonough, a
Boston-based retail industry veteran who in 1966 founded Eastern
Mountain Sports (EMS), a leading outdoor apparel and equipment
retailer.
Rugged Bear® has grown its retail presence throughout New
England, New York and New Jersey to 26 stores, and reaches the rest
of the United States via its website, www.ruggedbear.com. The
Company offers an assortment of children’s clothing for all seasons
from both private label and from well known third-party clothing
companies, which conform to the Company’s high standards of
manufacturing, comfort and design. The Rugged Bear® aims to ensure
parents that they will receive the best quality, durability and
variety of children’s clothing and outerwear at competitive
prices.
About Detwiler Fenton Group
Detwiler Fenton Group, Inc. is the holding company for its three
principal operating subsidiaries: The Rugged Bear Company, a
retailer of children’s active wear located in the Northeastern
United States, Detwiler Fenton & Co. (“DFC”) a channel
research, institutional sales and private client group
broker/dealer headquartered in Boston, MA and James Mitchell &
Co., a financial services firm headquartered in San Diego, CA. For
more information, please go to www.pinksheets.com under the symbol
DMCD, or visit www.dmcos.com.
Cautionary Statement Regarding
Forward-Looking Statements: Certain statements in this news
release may contain forward-looking statements within the meaning
of the Federal securities laws. Such statements should be
considered in light of the risks and uncertainties associated with
Detwiler Fenton Group, Inc. and its operating subsidiaries,
including those economic and market risks contained in the
Company’s Annual Report and other risks prevailing from time to
time; all of which are subject to material changes and may cause
actual results to vary materially from what had been
anticipated.
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