Experienced Retail Industry Executive Joins Nation's Largest Battery and Light Bulb Franchise
Rich Reynolds Joins Batteries Plus in New Position to Lead Store Growth
HARTLAND, WI, September 21, 2012 /24-7PressRelease/ -- Batteries Plus, the nation's first, largest, and fastest-growing battery and light bulb franchise with more than 525 locations in 46 states, announced the appointment of Rich Reynolds to the new position of President, Batteries Plus Stores Group. In the position, Reynolds will spearhead a group of Batteries Plus executives charged with expanding and improving both company-owned and franchise-owned stores.
Reynolds joins the flourishing franchise following a 30-year career at Target stores, where he ultimately managed multiple store regions spanning from Denver to New York. Over the past 10 years Reynolds served as Regional Vice President and led significant performance gains in the Detroit and NY Regions. In these roles, Reynolds managed between 60-90 stores that generated more than $3 billion in revenue, and dramatically improved the top line revenue and profit contribution of both market areas.
"Rich comes to us with a proven track record and invaluable amount of experience in the retail industry. We are honored to have him join the Batteries Plus franchise system to lead our rapidly growing company," said Russ Reynolds, CEO. "We are confident that his prior experience in store operations, talent development and retail merchandising will help us continue to improve store economics."
Batteries Plus serves the expanding $30.7 billion U.S. battery industry and the growing U.S. light bulb industry estimated to be at $17 billion in sales.* Stores offer a comprehensive selection of batteries, light bulbs, related products and services that meet the growing demands of retail consumers and businesses alike. Having experienced a 44 percent increase in store count over the last three years, and with same store net revenue increasing an average of 9.3 percent each year during that same span, Batteries Plus remains one of the top franchise opportunities on the market in 2012.
"I'm joining the company at an exciting time," Rich Reynolds said. "The U.S. battery and light bulb replacement markets are fast growing industries, which is driving robust sales at Batteries Plus stores and contributing to the overall growth of our store system. I look forward to ensuring continued development and innovation in my new role."
About Batteries Plus
Batteries Plus is the nation's first, largest and fastest growing battery and light bulb franchise with over 525 locations in 46 states and Puerto Rico. Batteries Plus is owned by Roark Capital Group, an Atlanta-based private equity firm. With access to more than 40,000 types of batteries, light bulbs and accessories, Batteries Plus has the widest selection of battery and light bulb products available and offers unmatched service to consumers, businesses and government entities at the national and local levels. Batteries Plus continues its reign as the undisputed leader in the expanding $30.7 billion U.S. battery replacement market and in the rapidly growing U.S. light bulb replacement market estimated to be at $17 billion*. To learn more about our exciting franchise opportunities please visit http://www.batteriesplus.com/franchising for more information. *Freedonia Research Study