Mackay Acquires Full Ownership Of SnugZ/USA
Vol. 844
August 23, 2011
Utah-based supplier SnugZ/USA
(asi/88060) has announced that Brandon Mackay, the firm's president and CEO,
has acquired 100% of the company. The deal formalizes the departure of Charley
Johnson from the industry, who left SnugZ earlier this year to pursue his interest in nonprofit
ventures. Johnson and Mackay had been principal owners of the supplier since
December of 2008. "I'm extremely grateful and look forward to the next
chapter of the SnugZ/USA story," says Mackay,
who has worked at the company since he was 16 years old. "Our model and
culture is priceless, and our team is the best in the industry."
According to a spokesperson for SnugZ,
the ownership transition was finalized during the first week in August.
However, Johnson has not been involved in operations at SnugZ
for some time. In fact, in April, Mackay confirmed to Counselor that Johnson
was no longer actively serving in his day-to-day role at the company. Johnson
is currently the president-elect of the Pay It Forward Foundation, according to
the national nonprofit's website.
Founded in 1989 with six employees, SnugZ
now has a staff of 250 people. Its 2011 sales are up approximately 18%, which
rivals the company's 2008 growth pace. |