AMREP Subsidiary Acquires Certain Assets Of FulCircle, Inc.
PRINCETON, N.J., Jan. 2, 2013 /PRNewswire/ -- AMREP Corporation (NYSE: AXR) today announced that, through a newly-formed subsidiary, it has acquired certain assets of FulCircle, Inc., a Denver, Colorado-based, privately-held company engaged in the marketing strategy, call center service, product distribution and operational solutions businesses. This acquisition will allow AMREP's Media Services business to move further into non-publishing relationships and will allow FulCircle clients to utilize many of the current technologies and operations provided by the Media Services business in its call center, product fulfillment and direct mail services activities.
Michael P. Duloc, President and CEO of AMREP's Media Services business, commented, "We are excited about this transaction because FulCircle's business model is synergistic with our core competencies in the call center and product fulfillment areas, and can therefore be managed and expanded efficiently. Our long-term strategy is to expand all areas of our services, and this transaction allows us to introduce new clients and services to our Media Services family of companies."
Sam Kimbriel, President and CEO of FulCircle, commented, "FulCircle has been delivering exceptional contact center, e-commerce and fulfillment services for a quarter of a century. We are excited about becoming a part of this organization, and since we share similar values and cultures this fit is perfect for the clients we serve. Their technology and mailing capabilities enhance our ability to deliver comprehensive multi-touch marketing programs and will complement services already provided by AMREP's Media Services family of companies."
AMREP Corporation's Media Services operations, conducted by its Kable Media Services, Inc. and Palm Coast Data LLC subsidiaries, distribute magazines to wholesalers and provide subscription and product fulfillment and related services to publishers and others, and its AMREP Southwest Inc. subsidiary is a major landholder and leading developer of real estate in New Mexico.
The statements in this news release regarding the expectation of benefits for AMREP and its Media Services business, the Companies' long-term strategy and the expansion of its non-publishing relationships are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the control of AMREP and that could cause actual results to differ materially from such statements. Further information about such risks and uncertainties may be found in the Company's filings with the Securities and Exchange Commission, all of which are available from the Commission as well as from other sources. Recipients of this news release are cautioned to consider these risks and uncertainties and to not place undue reliance on the forward-looking statements contained therein. AMREP disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE AMREP Corporation