COVINGTON, La., Aug. 4, 2014 (GLOBE NEWSWIRE) -- Pool Corporation announced today that it has completed a transaction that will expand its global presence into Australia. In a multi-faceted deal, POOLCORP purchased a majority interest in Pool Systems Pty. Ltd. (Pool Systems), a Brisbane-based distributor of swimming pool and spa equipment, accessories and leisure products throughout Australia. As part of this transaction, Pool Systems acquired Niagara Pool Supplies (Niagara), a Sydney-based distributor of pool products.
"We are excited by the opportunities this transaction presents. This is an important investment in the large Australia pool market. Pool Systems has a national presence, broad market penetration and is an established distributor with proven sourcing relationships. Niagara is a longstanding distributor of pool products in New South Wales and its distribution relationships will be a key to our success in this new venture. This is a chance for us to pursue the opportunity to provide value as a value-add distributor and build a network to serve professional trade and retail customers," said Manny Perez de la Mesa, POOLCORP's President and CEO.
"I truly believe that this transaction is beneficial not only for Pool Systems' growth over the long-term, but for the Australian swimming pool market as a whole. The investment by POOLCORP demonstrates their confidence in this market and to a greater degree, their commitment to the industry," added Adrian Wischer, Pool Systems' Director.
Pool Corporation is the largest wholesale distributor of swimming pool and related backyard products. Currently, POOLCORP operates 329 sales centers in North America, Europe, South America and Australia, through which it distributes more than 160,000 national brand and private label products to more than 80,000 wholesale customers. For more information about POOLCORP, please visit www.poolcorp.com.
CONTACT: Mark W. Joslin
Vice President and Chief Financial Officer
Source: Pool Corporation