50 Million Revenue Company, myFreightWorld of Overland Park, Kansas, Signs Letter of Intent With Anything Brands Online to Merge
February 13 2009 - 5:00AM
Marketwired
In a time of greatly reduced M&A activity, it is with great
pleasure and anticipation that Anything Brands Online, Inc.
(PINKSHEETS: ANYT) announced earlier that its Anything Trucker
Division (www.anythingtrucker.com) has signed a Letter Of Intent to
purchase the Carrier Management Division of myFreightWorld.com of
Overland Park, KS. This acquisition will result in increased
revenues of approximately $30 million of transportation under
management from myFreightWorld for 2008, with projected revenues to
be approximately $50,000,000 for 2009.
The mFW Carrier Management Division is a natural fit to the
already existing suite of Anything Brands products and services
because it provides back office support to customers who have
access to this technology through an extensive network of
transportation intermediaries throughout North America. Unrivaled
flexibility allows mFW to fit into nearly any aspect of the
transportation industry. mFW also provides private labeling options
to their partners which reach a potential 40,000 customers.
Jean Morgan, President of Anything Brands Online, states, "It
has been a long and winding road, but we keep on Truckin' down the
road of expansion, and, this acquisition places our Anything
Trucker Division strategically within the $165 billion
transportation industry. I believe this acquisition demonstrates
our level of commitment to our Shareholders and our goal of
expansion."
Tim Norton, President of the Anything Trucker Division, stated:
"In my thirty five years in the industry, I have never seen a more
impressive piece of technology. I firmly believe the availability
of this core technology will give us limitless possibilities for
growth. We are absolutely thrilled to be entering into this
agreement which will allow mFW to operate as a standalone business.
They will work with us on project development while continuing to
develop their own business model which will ultimately impact ANYT
with increased revenues and profits."
myFreightWorld was founded in 1998 and has been led since 2003
by J. Michael Head, President. Prior to leading mFW, Mr. Head
co-founded MNX Corp and built it to $150 million in annual revenues
after taking the company public. After the public offering, under
Head's leadership, MNX acquired a small start-up logistics company
by the name of Mark VII. Mark VII grew to $750 million in annual
revenues before merging with an international logistics company.
Mr. Head has a track record of success in the transportation
industry and is poised to lead the Carrier Management Division into
the future.
J. Michael Head, President and CEO of myFreightWorld, commented:
"It quickly became apparent in our initial discussions with ANYT;
their vision for the future was the perfect fit for our
organization. We believe the two companies share a common heritage
of valuing tradition and integrity, building business on the
foundation of lasting relationships and honest customer service.
ANYT and mFW are a great fit and the mutually beneficial results of
this union will show in our quarterly reports."
About Anything Brands Online, Inc.
Anything Brands markets and sells commercial & recreational
transportation products and services. Anything Brands is a leader
in the commercial and recreational vehicle and transportation
markets serving RV, trucking, marine, outdoor recreation,
automotive, commercial OEM applications. Also serving: automotive,
construction, industrial tools, and equipment and auto body
supplies thru its Tradesman Tool division. It has been a "long and
winding road," but we keep on Truckin' down the road of
expansion.
This release includes forward-looking statements regarding
Anything Brands Online, Inc. and its business. Such statements are
based on management's current expectations. The forward-looking
events and circumstances discussed in this release may not occur
and actual results could differ materially as a result of known and
unknown risk factors and uncertainties. No forward-looking
statement can be guaranteed. Forward-looking statements speak only
as of the date on which they are made and Anything Brands Online,
Inc. undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
For more information, visit Anything Brands Online at
www.anythingbrandsonline.com or contact the Investor Relations
department at 520-742-1890.
Contact: Investor Relations 520-742-1890
www.anythingbrandsonline.com
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