PMI, owner of Stanley and Aladdin, receives capital infusion
Seattle, WA (June 4, 2010) â€“ Pacific Market International (PMI), the Seattle-based owner of iconic food and beverage brands Aladdin and Stanley, announced today an equity partnership agreement with fellow Seattle-based investment company, the Joshua Green Corporation. PMI sought a strategic financial business partner to support its rapid, global consumer products growth. Joshua Green Corporation's infusion of capital into PMI will accelerate organic growth and support market expansion through targeted acquisitions.
â€œJoshua Green Corporation is a perfect fit for PMI. Our 27-year history of consistent year over year growth and profitability aligns well with Joshua Green Corporation's long term commitment to growing shareholder value. We look forward to their contribution as we navigate our next phase of growth and ownership transition over the next couple of decades,â€ explains CEO of PMI, Rob Harris.
â€œWe are very enthusiastic to partner with Rob Harris and the strong culture he's developed within PMI. The combination of great people and a profitable business creates a platform for accelerated growth. PMI is representative of the types of investments we seek,â€ continued Stanley McCammon, Joshua Green President and CEO.
Both PMI and Joshua Green Corporation are organizations that share a rich history in Seattle. PMI's great heritage consumer brands, Aladdin and Stanley, each boast 100 years of distribution in the global market. Likewise, Joshua Green Corporation started over 100 years ago and has a robust history in the banking and shipping industries.
Founded in 1983, by Rob Harris, PMI (Pacific Market International) manufactures, markets and designs innovative food and beverage solutions for busy lifestyles across the globe. PMI's two most recognizable brands, StanleyÂ® and AladdinÂ®, are both nearly 100 years old. Guided by principles of sustainability, community and integrity, PMI has extended these beloved brands into the future while remaining rooted in their past. Headquartered in Seattle, WA PMI has offices in Shanghai and Milan and factory ownership in China. It currently distributes its products in over 35 countries.
About Josh Green Corporation
The Joshua Green Corporation is a Seattle investment company that is privately owned by descendants of Joshua Green. The company has its roots in the shipping industry dating back to the late 1800s, and then expanded in the 1920's into banking and insurance with its acquisition of People's Bank and its investment in SAFECO. The Joshua Green Corporation invests for the long term, seeking to create value by investing in companies with good management teams and good long-term business prospects. The Joshua Green Corporation seeks investment opportunities in both privately owned companies and the commercial retail real estate markets.