Business
Pool Corporation to Acquire Porpoise Pool & Patio
Expands distribution network and customer base in key markets; adds retailer support capabilities COVINGTON, La., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Pool
About this update from Pool Corporation
[{"type":"text","content":"Expands distribution network and customer base in key markets; adds retailer support capabilities\nCOVINGTON, La., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Pool Corporation (Nasdaq/GSM:POOL) announced today that it has signed a definitive agreement to acquire Largo, Florida-based Porpoise Pool & Patio, Inc., including its main operating subsidiaries, Sun Wholesale Supply, Inc. and Pinch A Penny, Inc. Sun Wholesale Supply, Inc. is a wholesale distributor of swimming pool and outdoor-living products, including a specialty chemical packaging operation, selling primarily to Pinch A Penny franchisees. Pinch A Penny, Inc. is the largest franchisor of pool and outdoor living-related specialty retail stores in the United States with approximately 260 independently owned and operated franchised stores in Florida, Texas, Louisiana, Alabama and Georgia and brings substantial opportunities for expansion. “We are excited about combining our industry-leading distribution capabilities with Porpoise Pool & Patio’s well-established customer base, world-class chemical packaging operation, history of operational excellence, and strong growth-oriented Pinch A Penny brand. Since its founding over 45 years ago, Pinch A Penny has steadily grown and developed into a leading franchisor of swimming pool specialty retail stores and one of the highest-rated U.S. retail store franchise networks,” said Peter D. Arvan, POOLCORP President and CEO. “The addition of the Pinch A Penny franchise network to POOLCORP's North American distribution business brings substantial growth and operating synergies for both existing independent retail customers and independent franchisees.” “Pinch A Penny was founded by my father, Fred Thomas, on the premise of providing value, quality and service to our customers, offering everything needed to operate and enjoy a swimming pool or spa. Joining with POOLCORP is an extraordinary opportunity to ensure the continuation, and future expansion, of that legacy,” said John Thomas, CEO of Porpoise Pool & Patio. “This strategic combination of Pinch A Penny’s established retail support capabilities, Sun Wholesale’s central distribution and chemical packaging operations with POOLCORP’s national footprint, product breadth and resources provides a powerful platform for accelerated growth and enhanced retail customer experience,” added Jim Eisch, Po...