LOS ANGELES, September 13, 2007 – Marlin Equity Partners, LLC is pleased to announce the acquisition of the assets of Ronco Corporation, a pioneer in the TV infomercial direct marketing and consumer products space that heralded such unique patented products as the Pocket Fisherman, Veg-o-Matic, Six Star Knives, Food Dehydrator and Showtime Rotisserie Oven. Marlin purchased the assets as the stalking horse bidder in a Section 363 sale following Ronco Corporation’s bankruptcy filing in June.
George Kase, a Principal with Marlin, said, “This is an exciting opportunity to reinvigorate and rebuild Ronco. Through the bankruptcy process, we were able to restructure the business to reduce fixed costs and leverage Ronco’s core assets, which include the strong Ronco brand name, unique catalog of consumer products and CRM database.”
Larry Nusbaum, a veteran consumer products and direct marketing executive, joins the existing management team and will lead Ronco as its new Chief Executive Officer.
Mr. Nusbaum added, “We are rebuilding the original vision that Ron Popeil created, with a cadre of proven, high quality products that have consumer brand awareness, and have been successfully promoted through television. This proven business model will leverage our proprietary product line using a multi-channel media strategy, building the Ronco retail footprint by marketing and differentiating current brands including the Showtime Rotisserie, Six Star Knife set, and Food Dehydrator amongst others.”
About Marlin Equity Partners, LLC
Marlin Equity Partners is a Los Angeles, California-based private investment firm focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs in special situations. Marlin invests in businesses across multiple industries that are in the process of undergoing varying degrees of operational, financial or market-driven change where our capital base, industry relationships and extensive network of operational resources will significantly strengthen a company’s outlook and enhance value. Since October 2005, Marlin Equity Partners has successfully completed the acquisitions of Intuitive Manufacturing Systems, Relevant Business Systems, SupplyWorks, XKO Software, CMS Software, Aldon Computer Group, Ultra*Pro and Ronco. For more information, please visit www.marlinequity.com.
About Ronco Corporation
Ronco is a leading developer, marketer and distributor of kitchen and household products. The Company’s primary products include the Showtime Rotisserie Oven, Six Star Knives, Pocket Fisherman, Pasta Maker, Veg-o-Matic, Great Looking Hair (GLH) and Food Dehydrator. Ronco employs a multi-channel distribution strategy including TV infomercial direct marketing, online sales and retail distribution. Ronco is based in Simi Valley, CA. For more information, please visit www.ronco.com.
For additional information, please contact Peter Spasov at (310) 364-0100 or via e-mail at pspasov@marlinequity.com.