Business
Patrick Industries, Inc. Completes Acquisition of Rockford Corporation and the Rockford Fosgate Brand
ELKHART, Ind., March 7, 2022 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") announced today that it has completed its
About this update from Patrick Industries, Inc.
[{"type":"text","content":"ELKHART, Ind., March 7, 2022 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) (\"Patrick\" or the \"Company\") announced today that it has completed its previously announced acquisition by merger of Arizona-based Rockford Corporation (\"Rockford\") and the Rockford Fosgate® brand. Rockford is a global leader in the design and distribution of premier, high-performance audio systems and components, primarily serving the powersports, marine, and automotive markets and aftermarkets.\n\n \n \n \n \n \n \n\n \n\"We are extremely excited about the attractive market dynamics and expansion opportunities this acquisition creates as we strategically grow our presence in powersports and leisure lifestyle enthusiast aftermarkets. We look forward to collaborating with the talented Rockford management team to grow their business and further enhance shareholder value,\" said Andy Nemeth, Chief Executive Officer of Patrick.\nBill Jackson, President and Chief Executive Officer of Rockford, said, \"The Rockford team and I are pleased to be a part of the Patrick family and continuing our legacy of innovation, high quality, and performance alongside Patrick and the markets that we both serve.\"\nConference Call Webcast \nPatrick Industries will host a conference call on Tuesday, March 8, 2022 at 8:00 a.m. Eastern Time to discuss the acquisition. Participants on the call will be Andy Nemeth – Chief Executive Officer, Kip Ellis – Chief Operating Officer, Jake Petkovich – Chief Financial Officer, and Jeff Rodino – President. In addition, an investor presentation that will be presented during the call can be accessed on the Company's website, www.patrickind.com under \"For Investors.\"\nParticipation in the question-and-answer session of the call will be limited to institutional investors and analysts. The dial-in number for the live conference call is (877) 407-9036. Interested parties are invited to listen to a live webcast of the call on Patrick's website at www.patrickind.com under \"For Investors.\" A replay of the conference call will also be available via the Company's investor relations website.\nAbout Patrick Industries, Inc.\nPatrick Industries (NASDAQ: PATK) is a leading component solutions provider for the RV, marine, manufactured housing and various industrial markets – including single and multi-family housing, hospitality, institut...