The OurPet's Company to Purchase Certain Assets of Molor Products Company
FAIRPORT HARBOR, Ohio, Feb. 20, 2015 /PRNewswire/ -- The OurPet's Company (OTCQX: OPCO), a leading proprietary pet supply company, today announced plans to purchase certain assets of Molor Products Company that complement the OurPet's product lines. These products include the full-size and mini Food 'N' Fountain deluxe cat and dog bowls, the Cat Buffet, the EZ Store Raised Dog single bowl (similar to the OurPet's Store-N-Feed), and other pet bowls currently sold under the Festiva brand.
Dr. Steve Tsengas, Chairman and CEO, commented, "The Molar products we are acquiring, which offer significant health and convenience benefits, round out our feeder product line. We expect to increase sales of these products through our extensive domestic and expanding international sales channels. These patented products are currently sold throughout the United States, including major national and international retailers. We are very excited about these additions to our product portfolio. We plan to accelerate our overall sales by making further strategic acquisitions in our categories of concentration -- cat/dog toys and accessories, feeding/storage products and waste/odor management products, to achieve double digit growth going forward. We will be showing the Molor products at the upcoming Global Pet Expo next month."
The transaction is anticipated to close within the next 30 days. Terms of the transaction were not disclosed.
About The OurPet's Company
The OurPet's Company designs, produces and markets a broad line of innovative, trend-setting pet products and accessories sold under the OurPets and Pet Zone brands in the United States and overseas. OurPets and Pet Zone products are sold through leading pet specialty retailers, food, drug and mass merchandisers, direct-mail catalog and internet retailers. The OurPet's Company has an extensive intellectual property portfolio with more than 160 patents in either issued or pending status. The company was named a Weatherhead Top 100 Fastest Growing Company in Northeast Ohio in 2013 and has been a Lake-Geauga County Fast Track 50 Hall of Fame local business success winner for the last eight consecutive years. In addition, The OurPet's Company was named 2015 Business of the Year by the Painesville Area Chamber of Commerce. Investors and customers may visit www.ourpets.com and www.petzonebrand.com for more information about the Company, its products and brands.
Contact:
The OurPet's Company
Dr. Steven Tsengas, CEO
(440) 354-6500 ext. 111
Investor Relations:
InvestQuest, Inc.
Robert Lentz
(614) 876-1900
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SOURCE OurPet's Company
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