Annex Brands Acquires Parcel Plus
November 7, 2014 // Franchising.com // San Diego, CA - San Diego-based Annex Brands, Inc. today announced the acquisition of 27 Parcel Plus® shipping franchises from Eagle Franchise Systems, Inc. and its parent, International Center for Entrepreneurial Development® Inc. (ICED) based in Cypress, TX.
With the addition, Annex Brands now counts more than 450 franchises located across 41 states in the U.S., the District of Columbia, and Canada. The company's existing brands include PostalAnnex+®, Navis Pack & Ship®, AIM Mail Center®, Handle With Care Packaging Store®, Sunshine Pack & Ship®, and Annex Copy Center®.
"We are very excited to be adding this long-standing, successful brand in the pack and ship industry," commented Jack Lentz, founder, chairman and CEO of Annex Brands. This is the fifth acquisition for Annex Brands since 2006. Lentz commented the company's growth strategy continues to be a two-pronged approach: sales of new franchises as well as acquisitions. "The addition of Parcel Plus® increases the value for our new and our existing franchisees through increased buying power."
Annex Brands' president and CFO Patrick Edd said many of the Parcel Plus franchisees have long-established, successful businesses dating back to the 80's. "We are pleased to be able to bring increased resources and assistance to help them grow their businesses even more." Edd said. He commented the acquisition fits the company's vision to "build a franchise network that offers more service to more people in more places."
Steve Goble, Annex Brands' vice president of marketing communications added, "The acquisition of Parcel Plus® makes our company more robust in its positioning as a business services provider to both consumers and other businesses seeking to promote their own brands." Goble said the newly added centers will not be required to re-brand.
International Center for Entrepreneurial Development Inc. was founded in the Houston area in 1967 by F.C. "Bud" Hadfield, an inductee in the International Franchise Association's Hall of Fame. Steve Hammerstein, the current Chairman and CEO of ICED, said, "I've known Jack Lentz for many years as a friend in the industry. I am very pleased to have our franchisees join this organization and wish them all the best going forward."
Jay Groot, President of Eagle Franchise Systems, Inc., added "We're very pleased to know Annex Brands brings to the Parcel Plus franchisees an experienced team dedicated to their continued success."
Both firms are privately owned. No purchase price was disclosed.
About Annex Brands
Annex Brands, Inc., was formerly known as Postal Annex, Inc., founded by Lentz in 1985 and headquartered in San Diego. After the acquisition of the Handle With Care Packaging Store brand in 2007, the company changed its name to Annex Brands, Inc. to more closely reflect its multi-branded service in the packing, crating and shipping industry. Each location is an individually owned and operated franchise. Its retail stores offer a one-stop support center for packaging, shipping, postal and office supply needs, including the ability to compare shipping rates with UPS, FedEx, DHL and USPS shipping. The commercial locations provide custom packaging and shipping solutions for larger and more valuable items. For more information on the company's history, services and franchise information, visit www.AnnexBrands.com .
SOURCE Annex Brands