Product innovation
Power Plate International enters into sale agreement
PPI Acquisitions, LLC, of Northbrook, Illinois and the joint administrators of Power Plate International, Ltd. have announced they have agreed to terms for the sale and purchase of Power Plate International's business and assets.
The sale process is now in an exclusivity period while contractual terms are completed and during this time PPI Acquisitions will be operating the Power Plate business under license from the administrators. Joint administrators of Power Plate International, Ltd.,Paul John Clark and Philip Francis Duffy from Duff & Phelps were called in last month.
Additionally, PPI Acquisitions has entered into an exclusive manufacturing agreement with the current manufacturer of Power Plate products. With this agreement in place, PPI Acquisitions will be the sole source for the complete line of Power Plate branded products world-wide.