LAS VEGAS, NV--(Marketwired - June 17, 2015) - Avalanche International, Corp (OTC PINK: AVLP), announced today that it has agreed to purchase JS Technologies, Inc., maker of the world renowned Suhr and other branded musical instruments and electronics for $11 million in stock and cash. The 18-year old U.S. manufacturer of high-end musical instruments and electronics, based in Lake Elsinore, California, has annual revenues of over $10 million with great growth opportunities domestically and worldwide, driven by over 175 dealers in 49 countries and phenomenal brand loyalty and consumer popularity. Suhr is famed for its product craftsmanship, exotic fine woods and unique designs that provide each customer a very personalized experience. Numerous top artists have used and supported the Suhr brand for over a decade. Upon close of this transaction, JS Technologies, Inc. will operate as a wholly owned subsidiary of the Company with its own independent management team responsible to its new parent.
John Suhr and Steve Smith, co-founders of JS Technologies, Inc., stated, "We are proud to become a part of the Avalanche International family and look forward to this new chapter in the company's growth. As we pursue our vision, we are committed to provide great instruments and honored to provide such remarkable guitars, musical equipment and components to a very loyal and expanding customer base worldwide. We are proud to be apart of Avalanche International and apart of this incredible legacy."
Avalanche International, Corp., the holding company that specializes in consumer products, signed a Letter of Intent (LOI) on June 12, 2015 to purchase all the shares of JS Technologies, Inc. and anticipates the transaction to close over the next several weeks as it finalizes the financing of the acquisition. In connection with the deal, the Company intends to provide new working capital for increased manufacturing capacity and for potential strategic acquisitions that will provide new products, customers and/or distribution globally. The Company will work with its founders and current management through this transitional period as the manufacturer continues business as usual. The Company and JS Technologies is dedicated to maintaining the famous Suhr design, innovation and product quality while expanding consumer choices and service in the future.
Phil Mansour, President and CEO of AVLP, said, "We are very pleased and excited for our shareholders and the Company's future to be acquiring such a high quality product line, management team and state of the art U.S. manufacturing facility. We look forward to providing the necessary resources to help JS Technologies on its mission to expand and grow the company and its products."