Chilco River Holdings Announces Acquisition of L. Myers Associates

Rhea-AI Summary

Chilco River Holdings, Inc. (OTC: CRVH) has acquired a significant stake in L. Myers Associates, a printing and fulfillment house based in Harrisburg, PA. Founded in 1997, L. Myers operates a 20,000 sq ft facility and reported sales exceeding $5 million in 2022. The firm holds 10-year subcontracting agreements with Maryland and Pennsylvania, expanding its government-based business. Additionally, it services the hospitality sector, supplying uniforms and accessories to a five-star hotel chain in Pennsylvania. This acquisition is expected to enhance Chilco River's portfolio and align with its growth strategy.

Positive

• Acquisition of significant stake in L. Myers Associates enhances portfolio.
• L. Myers Associates reported over $5 million in sales in 2022.
• Established long-term government contracts with Maryland and Pennsylvania.
• Diversification into the hospitality sector with existing client base.

Negative

• None.

Company acquires a large interest in printing and fulfillment house provider L. Myers Associates 

LOS ANGELES, March 30, 2023 /PRNewswire/ -- Chilco River Holdings, Inc. ("Chilco River") (OTC: CRVH), is a multifaceted company focused on developing, manufacturing, and distributing high-growth products within diverse industries,announces it has acquired a major stake in Harrisburg, PA basedL. Myers Associates. 

L. Myers Associates has been in business since 1997 andoperates a 20,000 sq ft facility in Harrisburg, PA and had sales exceeding $5,000,000 in 2022. L. Myers Associates has 10-year subcontracting agreements with the states of Maryland and Pennsylvania and is a key printing and fulfillment house provider within these states.  

In addition to L. Myers Associates government-based business, L. Myers Associates is an established, long-term supplier to the hospitality sector providing apparel, uniforms and other accessories to hotel/lodging customers including a five-star hotelchain based in Pennsylvania.  The company is also a Certified Small/Minority Owned business in Maryland and Pennsylvania.  

The CEO of L. Myers Associates, Larry Myers, stated "We look forward to a mutually beneficial relationship with Chilco River in tandem with executing our aggressive business plans.  We're already off to a fast start in 2023 and eager to keep the momentum for a fruitful rest of the year."  

Will Lovett, Chief Executive Officer of Chilco River Holdingsconcluded, "Larry Myers and his team have a growing business with established, long-term customers which fits perfectly in the Chilco River portfolio. We've been busy with many exciting initiatives and look forward keeping shareholders updated on our progress." 

About Chilco River Holdings, Inc.:

Chilco River Holdings, Inc. is a multifaceted holding company focused on developing, manufacturing, and distributing high-growth products within diverse industries via mergers, acquisitions and joint ventures.  

About L. Myers Associates:

L. Myers Associates has been in business since 1997 and operates a 20,000 sq ft facility in Harrisburg, PA.  L. Myers Associates has 10-year subcontracting agreements with the states of Maryland and Pennsylvania and is a key printing and fulfillment house within these states.  

About Gries and Associates:

The accounting firm of Gries and Associates is registered with The Public Company Accounting Oversight Board ("PCAOB"). The PCAOB is a non-profit organization that oversees the audits of public companies to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports. 

Forward Looking Statements:

This release contains 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. Those statements include the intent, belief or current expectations of the company and its management team.

Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management's plans and objectives for future operations. Some or all the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control.

Contact:

Will Lovett 
Chief Executive
OfficerChilco River Holdings, Inc.
crvholdingsinc@gmail.com 
+1 307-217-6522

View original content:https://www.prnewswire.com/news-releases/chilco-river-holdings-announces-acquisition-of-l-myers-associates-301785966.html

SOURCE Chilco River Holdings Inc

FAQ

What is the significance of Chilco River's acquisition of L. Myers Associates?

The acquisition of L. Myers Associates is significant as it enhances Chilco River's portfolio, providing access to established contracts and markets in printing and fulfillment services.

How does L. Myers Associates contribute to Chilco River's business?

L. Myers Associates contributes by offering a growing business with government contracts and a presence in the hospitality sector, potentially driving revenue for Chilco River.

What are the sales figures for L. Myers Associates in 2022?

L. Myers Associates reported sales exceeding $5 million in 2022, indicating a robust business performance.

What types of agreements does L. Myers Associates have with the states?

L. Myers Associates has 10-year subcontracting agreements with the states of Maryland and Pennsylvania, establishing a stable revenue stream.

When was the acquisition of L. Myers Associates announced?

The acquisition of L. Myers Associates was announced on March 30, 2023.