Rocky Brands, Inc. Announces Distribution Agreement for Eastern Europe
NELSONVILLE, Ohio--(BUSINESS WIRE)--
Rocky Brands, Inc. (NASDAQ: RCKY) announced today that it has entered into a multi-year agreement with Rapala VMC Oyi for distribution of Rocky Outdoor branded hunting boots in Eastern Europe.
Headquartered in Helinski, Finland, Rapala is a global leader in the recreational fishing market. The company manufactures fishing lures, hooks, rods, fishing line, and other accessories and sells its products in more than 120 countries worldwide. In addition to its principal business, Rapala distributes hunting products such as guns and optics including brands like Remington, Bushnell, and Plano. The initial terms of the agreement include distribution in Finland, Russia, Estonia, Lithuania, Slovakia, Czech Republic, Latvia, Poland, Belarus, Kazakhstan, and Moldova.
Jorma Kasslin, CEO of Rapala, made the following comment regarding the new arrangement: "Rapala has been expanding and building a strong worldwide distribution network and we are currently distributing a great number of first class fishing tackle and outdoor brands through this network. We are very pleased to add the well known Rocky brand to our distribution portfolio in Finland and East Europe. We are sure that this union will be successful and will create a win-win situation for both parties".
Mike Brooks, Chairman and Chief Executive Officer, commented, "We are very excited to announce this distribution agreement for Eastern Europe. The Rocky brand was introduced into the European market more than 15 years ago and has enjoyed success selling through a limited number of accounts across the continent. Importantly, Rapala has established a broad network of retail relationships around the globe that will allow us to expand our brand recognition, reach new consumers and further capitalize on the many international opportunities we believe exist for our Company."
About Rocky Brands, Inc.
Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky Outdoor Gear(R), Georgia Boot(R), Durango(R), Lehigh(R), and the licensed brands Dickies(R), Zumfoot(R) and Michelin(R).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Those statements include, but may not be limited to, all statements regarding intent, beliefs, expectations, projections, forecasts, and plans of the Company and its management. These forward-looking statements involve numerous risks and uncertainties, including, without limitation, the various risks inherent in the Company's business as set forth in periodic reports filed with the Securities and Exchange Commission, including the Company's annual report on Form 10-K for the year ended December 31, 2007 (filed March 6, 2008) and the Company's quarterly report on Form 10-Q for the quarter ended March 31, 2008 (filed May 1, 2008). One or more of these factors have affected historical results, and could in the future affect the Company's businesses and financial results in future periods and could cause actual results to differ materially from plans and projections. Therefore there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the Company, or any other person should not regard the inclusion of such information as a representation that the objectives and plans of the Company will be achieved. All forward-looking statements made in this press release are based on information presently available to the management of the Company. The Company assumes no obligation to update any forward-looking statements.
Source: Rocky Brands, Inc.
Released July 24, 2008
