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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

The Legacy Companies Completes Acquisition of Avanti® Products in Doral, Florida

March 5, 2019

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Mar 5, 2019--The Legacy Companies has announced it has acquired Avanti® Products, a trusted brand and leader in the consumer appliance industry. Avanti® develops, manufacturers and markets compact appliances including refrigerators, freezers, ranges, microwave ovens, wine refrigerators, ice makers, water dispensers, laundry appliances and other compact appliances.

The combination of these two great companies is expected to substantially scale presence in key retailers, channels and geographies. It will also create a new enterprise with power brands in large and growing markets. Speed, the impact of extended distribution, cross-sell and market deployment is expected to accelerate growth and cultivate value creation for The Legacy Companies.

The Legacy Companies is a global leader in e-commerce, innovation and brand building. These capabilities provide an advantage for Avanti®. The Legacy Companies plans to produce some of Avanti’s® product solutions in its wholly owned manufacturing plants thereby securing a source of competitive advantage. It will also protect, develop and drive growth with Avanti’s® current customers and distribution partners.

“Today marks the beginning of an exciting new era for The Legacy Companies, as we now move forward to realize the great potential of our combined businesses,” said Neal Asbury, Chief Executive Officer, The Legacy Companies. “In bringing Avanti® into The Legacy Companies, we create a new enterprise that is well positioned to uniquely serve customers who are looking for enjoyable and convenient solutions designed for small living spaces. Avanti® is the latest addition to The Legacy Companies’ aggressive acquisition strategy. With the current trend in mass urbanization driven by millennials, Avanti’s® compact appliances are well positioned for strong growth.”

Sawaya Partners acted as exclusive financial advisors for The Legacy Companies.

About The Legacy Companies

The Legacy Companies is a leading global consumer products and food service provider with one of the strongest portfolios of trusted, quality, leadership brands including Back to Basics, Bevles, Blakeslee, Chef’sChoice, Excalibur, General, Kold-Draft, Jos. Heinrichs, Legion, Maxx Cold, Maxx Ice, Maxx Scientific, Nautilus, Omega, Vinturi, WestBend, Yonanas and Zeroll. The Legacy Companies works with world class partners to develop, source and market healthy, convenient and enjoyable solutions that win in the marketplace. The company’s corporate website is www.TheLegacyCompanies.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190305005374/en/

CONTACT: Carlos Febles, Vice President, Marketing

cfebles@thelegacycompanies.com

(954) 202-7419

KEYWORD: UNITED STATES NORTH AMERICA FLORIDA

INDUSTRY KEYWORD: HOME GOODS MANUFACTURING OTHER MANUFACTURING RETAIL

SOURCE: The Legacy Companies

Copyright Business Wire 2019.

PUB: 03/05/2019 08:00 AM/DISC: 03/05/2019 08:01 AM

http://www.businesswire.com/news/home/20190305005374/en