Seasoned professionals acquire Guarantee Handbags Co. Ltd
MONTREAL, June 4, 2013 /CNW Telbec/ - Guarantee Handbags Co. Ltd, a Canadian company specialized in the production and distribution of business accessories inherits new owners today. Guarantee Handbags Co. Ltd is best known for its branded products sold under the Bugatti trademark at Staples Inc. (NASDAQ: SPLS) and other fine retailers across Canada. The Company's name has been changed to Bugatti-Sedona Inc., to better reflect its two brands.
After 54 years, Julius Lis the President of Guarantee Handbags Co. Ltd. decided to hand off the torch to a younger but seasoned team. "We carefully selected the new owners. Over the years we built a Canadian brand that has rivaled international players. We are proud of our accomplishments and are confident that the new owners will stay true to our core values", said Mr. Lis.
Mr. Julius Lis and Mr. Alan Rimer, the past owners, will remain active in the business for the next couple of years. "Our successors share our vision of transitioning the business properly and it remains business as usual for customers and employees. The Company is in good hands, my successor, Mr. Andrew Hattem, has over 30 years of import and sales experience.", concluded Mr. Lis.
"Hats off to the former owners. We plan to build on this acquisition platform and grow the company sales in Canada and the USA. My partner, Benoit Larose will lead our sales efforts. Mr. Larose brings a wealth of experience. He was formerly a Senior Sales Manager for Reebok-CCM Hockey a division of Adidas AG (ADS.DE). Mr. Jason Bishara will also be joining the team and will be supporting our internal efforts," announced Mr. Hattem, the newly appointed President and CEO of Bugatti-Sedona Inc.
Empowered by its financial partners, the Desjardins Group and Investissement Quebec, the Company will seek to make strategic add-on acquisitions over the next two years.
BGK Corporate Financing Inc., a mid-market mergers and acquisitions firm, acted as the sole advisor on this transaction. "We are proud to have led this transaction to a successful close and wish the new owners the best of luck" said Moses Bendayan, CFA, Senior Vice-President of BGK Corporate Finance Inc.
About Bugatti-Sedona Inc.
Bugatti-Sedona Inc. specializes in the design, import and distribution of business accessories, such as briefcases, writing cases, travel bags and luggage. It is best known for its Bugatti product line, which is sold across Canada. The Company also provides business accessories to promotional products distributors across Canada and the United States under various brand names.
SOURCE: Bugatti-Sedona Inc.
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