Detwiler Fenton Group, Inc. Completes the Acquisition of The Rugged Bear, Inc.

Date : 02/11/2010 @ 11:21PM
Source : Business Wire
Stock : Detwiler Fenton Group, Inc. (PC) (DMCD)
Quote : 0.025  0.0 (0.00%) @ 12:52PM

Detwiler Fenton Group, Inc. Completes the Acquisition of The Rugged Bear, Inc.

Detwiler Fenton Group, Inc. (PC) (USOTC:DMCD)
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Detwiler Fenton Group, Inc. (“Detwiler Fenton Group”)(Pink Sheets:DMCD), via a newly formed entity, The Rugged Bear Company, today announced that it has completed the acquisition of The Rugged Bear, Inc.’s children’s clothing business. The Rugged Bear® is a leading designer and retailer of high-quality, affordable children’s clothing and outerwear in the Northeast United States. Rugged Bear® sells its products in 26 retail locations located in six states, as well as through its website, www.ruggedbear.com.

The acquisition, which was led by Detwiler Fenton Group on behalf of a group of investors, represents the first transaction for the recently established Merchant Banking Group of Detwiler Fenton Group’s primary operating subsidiary, Detwiler Fenton & Co. (“DFC”), a FINRA member broker dealer.

Commenting on the announcement, newly installed President and Chief Executive Officer of The Rugged Bear® business, Garrett Larson, said “Over the last 30 years, The Rugged Bear® has become one of the most well-known and highly respected retail brands in the New England area. This acquisition represents a unique opportunity for us to improve upon The Rugged Bear® concept and expand our presence both within New England and, eventually, into other regions across the United States.”

Alan McDonough, the founder of The Rugged Bear®, stated, "This transaction will allow The Rugged Bear® to capitalize on the strengths of the new management group and continue to provide the high-quality, competitively priced products for which the company has been known for the past 30 years. We are thrilled that the wonderful tradition of The Rugged Bear® will continue and thrive into the future.”

Alex Arnold, Executive Vice President of Detwiler Fenton, added, “We are extremely excited to work with Garrett Larson to leverage our expertise in the consumer and retail sector and propel the Rugged Bear® brand to the next level in the retail marketplace.”

About The Rugged Bear, Inc.

The Rugged Bear® is a chain of retail children’s clothing stores located in the Northeast US. For the last 30 years, Rugged Bear® has offered high-quality, value-priced, durable and fashionable children’s active wear to families in New England, New York and New Jersey. Rugged Bear® was founded in 1980 by Alan McDonough, a Boston-based retail industry veteran who in 1966 founded Eastern Mountain Sports (EMS), a leading outdoor apparel and equipment retailer.

Rugged Bear® has grown its retail presence throughout New England, New York and New Jersey to 26 stores, and reaches the rest of the United States via its website, www.ruggedbear.com. The Company offers an assortment of children’s clothing for all seasons from both private label and from well known third-party clothing companies, which conform to the Company’s high standards of manufacturing, comfort and design. The Rugged Bear® aims to ensure parents that they will receive the best quality, durability and variety of children’s clothing and outerwear at competitive prices.

About Detwiler Fenton Group

Detwiler Fenton Group, Inc. is the holding company for its three principal operating subsidiaries: The Rugged Bear Company, a retailer of children’s active wear located in the Northeastern United States, Detwiler Fenton & Co. (“DFC”) a channel research, institutional sales and private client group broker/dealer headquartered in Boston, MA and James Mitchell & Co., a financial services firm headquartered in San Diego, CA. For more information, please go to www.pinksheets.com under the symbol DMCD, or visit www.dmcos.com.

Cautionary Statement Regarding Forward-Looking Statements: Certain statements in this news release may contain forward-looking statements within the meaning of the Federal securities laws. Such statements should be considered in light of the risks and uncertainties associated with Detwiler Fenton Group, Inc. and its operating subsidiaries, including those economic and market risks contained in the Company’s Annual Report and other risks prevailing from time to time; all of which are subject to material changes and may cause actual results to vary materially from what had been anticipated.

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