STL BUYS APPALACHIAN AND APPOINTS CEO
Carlisle, England-based Send The Light Limited (STL) announced its subsidiary, Send The Light Inc. (STL Inc.) in Waynesboro, GA, signed an agreement yesterday afternoon to acquire Appalachian Distributors from its owner and founder Tom Torbett. The transaction is scheduled to close by the end of July.
Appalachian Distributors, who employs over 100 people in 100,000 square feet of warehouses, will continue to operate from its Johnson City, TN and Reno, NV facilities as a division of STL Inc. Torbett’s sons Tommy and Lance will continue working in the business.
Businessman and STL board member David Passman was appointed STL Inc. president and CEO.
Munce Marketing president Bob Munce, who originally introduced Torbett to STL said, “It’s not surprising that Tom, in wishing to retire, would pick [STL] to acquire his business.”
STL’s U.S. operation also includes FaithWorks, Great Value Books, Authentic Publishing, and Paternoster. U.S. sales revenues are projected to be $65 million in 2006 and STL Inc. will donate a percentage of earnings to support world missions.
In 2001 Word Entertainment sold its U.K. subsidiary to STL, which entered the U.S. market in 2003 when it purchased OM Literature from Operation Mobilization.
Earlier this year, STL acquired FaithWorks, the largest full-service Christian distributor, from National Book Network in Washington, D.C. These acquisitions provide a substantial presence for STL in the U.S., and complement its global strategy of advancing the Christian faith through literature distribution.
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