Cool Holdings has announced that it’s entered into a definitive agreement to purchase all of the outstanding capital stock of Simply Macfrom its parent company GameStop.
Simply Mac, based in Salt Lake City, Utah, is the largest Apple Premier Partner in the United States, and operates 43 stores in 18 states. Consideration for the purchase will be based in part on the value of inventories and other working capital at the date of closing. The transaction is expected to close by early August, 2019.
“We are excited to work with the Simply Mac team, because we each bring synergistic strengths to the table that we believe will improve the operating efficiency and profitability of the combined company,” says Mauricio Diaz, CEO and executive chairman of Cool Holdings' board of directors. “We believe our direct relationships with third-party accessory manufacturers can help strengthen Simply Mac's product offerings and gross margins. Simply Mac's focus on Apple authorized service and smaller market locations could help us further expand our U.S. presence and improve our existing store efficiencies and product-services mix.”
Cool Holdings is a Miami-based company focused on premium retail brands. It’s comprised of OneClick, a chain of retail stores and an authorized reseller under the Apple Premier Partner, APR (Apple Premium Reseller) and AAR MB (Apple Authorized Reseller Mono-Brand) programs and Cooltech Distribution, an authorized distributor to the OneClick stores and other resellers of Apple products and other high-profile consumer electronic brands.