PickUps Plus Acquires Muncie, Indiana Store
19 July 2000
PickUps Plus Acquires Muncie, Indiana StoreMASON, Ohio - PickUps Plus, Inc. has acquired the PickUps Plus retail store in Muncie, Indiana from its franchise owner and will operate the retail site as a corporate facility, John Fitzgerald, President and CEO, announced today. The store is relatively new, having been in operation since June 1999, but is expected to add about $200,000 to PickUps Plus corporate sales in 2000 and be accretive to 2001 income. "We are delighted to acquire a development-stage retail store which is close to our headquarters and contiguous to our market area. The store is well positioned and has tremendous growth potential. Our goal is to unlock that potential and make it a showcase site," Mr. Fitzgerald said. The Muncie store is modern and well equipped. A leased facility in a high traffic area, it comprises about 4,000 square feet, divided between a 2,000 square-foot showroom and 2,000 square-foot service bay. Founded in 1993, PickUps Plus is a leading national franchiser of retail stores dedicated to the sale and installation of quality aftermarket accessories for pickup trucks and SUVs -- a $30 billion market. The Company operates three prototype corporate retail stores and has eight franchise stores in eight states. This news release contains forward-looking statements made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, Section 21E of the Securities Act of 1934 and Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of risks and uncertainties which can cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are contained in the Company's reports to the Securities and Exchange Commission, available via EDGAR.