Acquisitionverified
POOLCORP to acquire Largo-based Pinch A Penny parent Porpoise Pool & Patio
What happened. Pool Corporation agreed to acquire Porpoise Pool & Patio of Largo, franchisor of Pinch A Penny Pool Patio Spa and owner of Sun Wholesale Supply. Pinch A Penny, founded in 1975, had roughly 260 independently owned franchised stores in Florida, Texas, Louisiana, Alabama and Georgia. POOLCORP president and CEO Peter Arvan said the deal combined the company's distribution capabilities with Porpoise's established customer base. Terms were not disclosed; the deal was funded with the existing credit facility and cash and was expected to close by December 31, 2021.
Parties
- Company
- Porpoise Pool & Patio, Inc. · Largo, Pinellas County
- Buyer
- Pool Corporation (POOLCORP)
- Price
- Not disclosed
The name on the truckPorpoise Pool & Patio, Inc.
Largo, Pinellas County
Operating ownerPool Corporation (POOLCORP)
Covington, LA
What this kind of deal tends to mean for customers and staff: pricing · sales pressure · technicians · the exit clock.
Sources Verified — primary document
- Pool Corporation (2021-11-10) — press release. Announcement, store count, funding, expected close
- Pool Magazine (2021-11-11) — trade press. Trade coverage
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