One Year After Acquiring the Parent Company of Brands' Phoenix Gold®, AudioSource®, and Carver®, Investment Group and Company Management Rename Corporation "Rodin"
Portland, Ore., Aug. 31, 2007 - One year after an investment group PHX AP Acquisitions purchased Phoenix Gold International, the new management team has renamed the parent company "Rodin" effective immediately. Individual brand names Phoenix Gold®, AudioSource®, and Carver® remain unchanged.
"Since the acquisition last year, we have taken the Phoenix Gold, AudioSource, and Carver brands in new and exciting directions, so it was only right that our overall corporate identity change with the times," explained Tom O'Mara, president of Rodin and part of the investment team that acquired Phoenix Gold Int'l in July 2006. "Our new company is completely focused on our home brands' efforts in the custom installation business, as well as bringing the Phoenix Gold car audio division back to prosperity. We believe with our product offerings in the speakers, amplifiers, and accessories categories that we now provide complete solutions for dealers, distributors, and the CI market."
O'Mara explained that during the first year after the acquisition, the company had a steadfast plan in place that included a focus on new products, revamped brand positioning and channel strategies, and terminating domestic manufacturing and reallocating those resources to the core business focus. O'Mara added that the first six months after the acquisition, the new corporate focus was gearing up and beginning to implement these changes, while the past six months have been launching new product and prioritizing the efforts of the new company's personnel and identifying and executing current and future plans.
"Rodin as a corporation will reflect the past successes of our brands, but bring them into the modern business climate where each will be its own entity, and not simply an offshoot of the others whereas each had no clearly defined, individual direction,"
O'Mara added. "For example, the Phoenix Gold and AudioSource brand differentiation is just now beginning to be recognized by our distribution and retail channels as we launch more than 100 new products this year."
During the 2007 CEDIA Expo in Denver, Rodin's first public/industry appearance since the new corporate identity has been formally adopted and announced, O'Mara and other company officials will be on hand to discuss corporate strategies as well as introduce many of the brands' new and exciting products. Some of these new products include new Phoenix Gold Simplay HDTM -rated HDMI cable and available repeaters, AudioSource LCR in -wall speakers and subs, Phoenix Gold indoor/outdoor speakers, and more.
"For the past year, our highly motivated in -house team has outlined and executed our current and future goals and strategies diligently," O'Mara added. "Now, as the company as a whole has come into its own as 'Rodin', there is a feeling of a fresh start and endless possibilities for both the short and long term as the Rodin business model continues to unfold."