Mackay And Johnson Acquire SnugZ
After extensive talks, SnugZ USA (asi/88060) CEO Brandon Mackay and Vice President Charley Johnson have become sole owners of the company. Previously, Mackay and Johnson were minority owners. “The biggest thing is we now have control and we can map out the direction for the company,” says Mackay. “We’re extremely excited. It’s going to be a good 2009.”
SnugZ realized 2007 revenues of $23.5 million and Mackay expects 2008 revenues to be even higher. He says SnugZ will become even more aggressive and pursue expansion plans through further acquisitions. “There’s a ton of opportunities out there,” Mackay says. “We have two irons in the fire right now.” SnugZ opened in 1989 as a family-owned company. Today, its staff exceeds 200 people. “During the past few years, SnugZ USA has been one of Utah’s most successful companies,” Johnson says. “The total acquisition of SnugZ will better position our company to expand even more.”
Mackay and Johnson, who are both on the Counselor Power 50 list, purchased 100% ownership of SnugZ from two other owners. The deal was completed December 9. “We want to be large and go up from there,” Mackay says.