Lawn and garden group partners with mergers and acquisitions expert
The Lawn & Garden Performance Group (LGPG), which specializes in bringing lawn and garden companies together through mergers and acquisitions, strategic alliances and business partnerships, has entered into a marketing partnership with mergers and acquisitions expert Alison Tanner, the Gilbert, Ariz.-based group announced.
Tanner has wide-ranging experience as both an investor and a senior corporate development executive. She spent 13 years on Wall Street as an analyst and portfolio manager for companies including Salomon Brothers and Fred Alger Management before joining the successful turnaround team at Sensormatic Electronics, where she oversaw e-commerce and investor relations.
Tanner also served as senior vp-corporate development and chief strategist for eDiets.com, a leading provider of online weight loss solutions, where she launched the award-winning DeliciouslyYours, a portion-controlled nationwide fresh meal delivery service, and accelerated the company’s entry into the corporate hosted services market through the acquisition of Nutrio.com.
“The Lawn & Garden Performance Group is thrilled to be working with Alison Tanner in our mergers and acquisitions and business partnerships division,” said Rick Pontz, president of LGPG. “We continue to provide our clients with the most outstanding and comprehensive mergers and acquisition and business partnerships services available within the lawn and garden industry.”
Ace tops customer service survey
Ace Hardware received the highest marks in customer service for the third quarter of 2008, according to RealPeopleRatings.com, a quarterly survey by Corporate Research International (CRI).
True Value ranked second in the survey; Lowe’s ranked third.
CRI, a market research firm specializing in mystery shopping and customer satisfaction surveys, sends the quarterly surveys as online opinion polls to its pool of panelists; 3,000 panelists participated in this quarter’s survey.
According to CRI, this survey emphasizes the importance of brand image and customer perception. Respondents were asked to rate their perception of each business’s customer service on a scale of 1 to 10, with 10 being the highest rating. If a respondent did not have experience with the business, the panelist did not enter a score for that establishment.
“It’s increasingly important in today’s marketplace for companies to ensure a high level of customer satisfaction to keep their customers coming back,” said Michael Mallett, CEO of Corporate Research International.
Black & Decker earnings decline for Q3
Towson, Md.-based Black & Decker reported net earnings of $85.8 million for the third quarter, down 18 percent from $104.6 million for the third quarter of 2007. Earnings reflect a $15.6 million pre-tax restructuring charge.
Sales for the quarter were $1.57 billion, down 4 percent from 1.63 billion in the year-ago period.
“Black & Decker generated solid earnings and cash flow in a very difficult business environment this quarter,” said Nolan D. Archibald, chairman and CEO. “Sales met our expectations despite weakening economic conditions in the U.S. and Western Europe. The actions we took earlier in the year to reduce costs helped our results this quarter, and we are taking additional steps in light of recent macroeconomic developments.”
In the company’s power tools and accessories, hardware and home improvement, and fastening and assembly systems segments, sales decreased 6 percent, 13 percent and 2 percent, respectively.