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Cowboy Maloney's Electric City has acquired Riverwood Home Appliances, a two-store premium appliance chain with locations in Riverwood and Hattiesburg, Miss.
Terms of the acquisition were not disclosed, but included such select assets as store locations, inventory and trade name. The deal gives Cowboy Maloney access to Riverwood's luxury majap lines, including Aga, Gaggenau, Sub-Zero, Viking and Wolf, for which the company has entered into new dealership arrangements with vendors and distributors.
The 55-year-old NATM dealer will operate the two stores under the Riverwood name, and will continue to carry the same premium assortment. Riverwood, a leading supplier of high-end white goods serving central Mississippi, was founded over 25 years ago by Debbie and Dwight Williams. Debbie will continue to serve her customers at the Pearl store in a sales consulting capacity.
"This represents a terrific opportunity for Cowboy Maloney to expand our market and offer a new line of appliances," said Cowboy Maloney chairman Con Maloney. "Riverwood customers can expect to find the same premier brand name appliances and service that have become synonymous with the Riverwood name at the Pearl and Hattiesburg stores, even though there is new ownership and management. We have always put our customers first, and it will be no different for our Riverwood customers at these locations."
Cowboy Maloney will fulfill all prepaid orders with current Riverwood customers, he added.
"I'm proud to be part of Cowboy Maloney's team, and I know that Cowboy Maloney's experience in the industry will be a great benefit to Riverwood's customers," said Debbie Williams.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.