MEXICO CITY, Mexico (BRAIN)—The Hawley Company has verbally agreed to acquire Mexico’s leading producer of fireworks, Boom Grande.
The deal is expected to close prior to the July 4th Holiday.
This will be the first acquisition for the Hawley Company, a 22-year-old distributor of bicycle parts and accessories.
The deal will include Boom Grande’s state-of-the-art, 100,000 square foot distribution facility just outside of Mexico City.
“Many people do not realize the enormous synergies between the two businesses," said owner Steve Hawley. “This will have direct benefits for our bike dealers. Leveraging the best practices of both businesses will allow us significantly improve our level of service”.
Outgoing Boom Grande chief executive officer Enrique Feliz said he is confident that the combined organization will take the distribution of both cycling products and fireworks to a new level.
“I expect many, many special happenings," Feliz said.
Rumors of the deal have been circulating in recent days.
“We wanted to announce the deal after it closed, but there was too much excitement on both sides," Hawley said.
Attention will now turn to finalizing the terms and conditions of the deal. “We have agreed on all the fundamental aspects of the sale, so I am confident it will be smooth-going from here," Hawley added.
(Happy April Fools Day courtesy of those merry pranksters over at the Hawley Company.)