ORLANDO, Fla., Feb. 10, 2020 (GLOBE NEWSWIRE) -- National Storm Recovery Inc. (OTC: NSRI) (“National Storm,” “NSRI” or the “Company”) is announcing today that after identifying the significant synergies and strategic benefits involved, as well as months of negotiations, it has acquired the 35 year old industry leader and innovator, Mulch Manufacturing, Inc., an Ohio corporation. This acquisition, structured as a share exchange, provides the Company with a significantly larger footprint in the mulch industry. “With Mulch Manufacturing’s national and international distribution, its sales contracts with many big box retailers and the increase in production and packaging capacity it provides, this strategic acquisition has positioned us as - The Sustainable Green Team,” the Company’s CEO, Tony Raynor, stated. Mulch Manufacturing’s CEO, Ralph Spencer continued, “This business combination has created an industry power house; and with our combined strengths, puts us in an ideal position to increase our sales and resulting margins, as our combined operations benefit from the resulting vertical integration and economies of scale.” “Not only does this transaction make good economic sense, but we both share the same vision and commitment of providing environmentally friendly products to the public, such as Softscape, our next-generation mulch product. The importance of our shared belief that we are “stewards of the environment” should not be understated. National Storm’s strategic partnership with one of the largest waste disposal companies in the country doesn’t just drive revenue while it secures mulch feedstock, the use of this feedstock has the environmental benefit of decreasing the volume of material that would otherwise continue to fill our nation’s landfills; and these are just three more examples of why this business combination makes so much sense,” Spencer added.
National Storm and Mulch Mfg. are each preparing their financial statements for consolidation and publication on OTC Markets for current information purposes, which they intend to publish as quickly as possible. These financial statements are being reviewed not only from a US GAAP compliance perspective, but also so that they are ready to meet the standards required for PCAOB unqualified audit reports.
About National Storm Recovery
National Storm Recovery, Inc., based in Florida, through its subsidiaries, provides tree services, debris hauling and removal, biomass recycling, mulch manufacturing, packaging and sales. The Company was established with the objective of providing a solution for the treatment and handling of tree debris that has historically been disposed of in landfills, creating an environmental burden and pressure on disposal sites around the nation. The Company and its Sustainable Green Team’s solutions are founded in sustainability, based on vertically integrated operations that begin with collecting of tree debris through its tree services division, and collection sites, then through its processing division, recycling and using that tree debris as a feedstock that is manufactured in to a variety of organic, attractive, next-generation mulch products that are packaged and sold to landscapers, installers and garden centers. The Company plans to expand its operations through a combination of organic growth and strategic acquisitions that are both accretive to earnings and are positioned for rapid growth from the resulting synergistic opportunities identified. The Company’s customers include governmental, residential and commercial customers and now big box retailers. To learn more about National Storm Recovery, visit www.nationalarborcare.com.
About Mulch Manufacturing
Mulch Manufacturing is one of the largest producers of packaged mulch products in the country. We harvest the raw materials, process the mulch at several locations, package it and ship it when required in our own fleet of trucks or by contract carriers. Our products are distributed through the largest of mass merchandisers as well as small independent retailers. We provide customer service and sales support to the retailer as well as the end user.
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This news release may include forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended. No information in this press release should be construed as any indication whatsoever of the Company's future financial results, revenues or stock price. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.
Tony Raynor, CEO