CHICAGO United Network Marketing Services said it has finalized its merger with The Knockout Group, a privately held company that is the exclusive developer and marketer of George Foreman's Knock-Out line of non-toxic cleaners and disinfectants. Financial terms were not revealed.
The Knockout Group pre-launched its George Foreman's Knock-Out products in August, and plans to officially introduce the line during the first quarter of 2005. It also plans to follow that with George Foreman's Knock-Out automotive cleaning products in mid-2005. The household cleaners currently are available in more than 7,000 stores, including Albertsons, Target and Walgreen's, per the Northlake, Ill.-based company. An informercial starring Foreman supports, and he is pictured on the products.
"The closing of this transaction was an integral part of Knockout's overall growth plan," John Bellamy, chairman and CEO of both The Knockout Group and United, said in a statement. "As a public company, we believe that Knockout should have greater access to capital markets."
Brandweek staff report