DGAP-News: ROK Global PLC : JP Selects Acquires LovingEco
(firmenpresse) - DGAP-News: ROK Global PLC / Key word(s): Acquisition
ROK Global PLC : JP Selects Acquires LovingEco
01.05.2012 / 09:00
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JP Selects Acquires LovingEco
Consolidation of expertise and revenues delivers the world's leading online
platform for eco-conscious consumers
1st May 2012
Ticker Symbol: RKG
WKN: A0YKFS
ROK Global PLC, the technology, applications and services company, has
announced its online shopping portal for eco-conscious consumers, JP
Selects, has acquired rival company LovingEco, Inc. in a move designed to
consolidate expertise and revenues and to further strengthen the position
of the merged companies as the leading 'green commerce' marketplace on the
web.
Under the terms of the $ 1 million acquisition, LovingEco will merge into
JP Selects and key personnel from LovingEco will join JP Selects as
employees and shareholders.
Commenting on the acquisition, Jonathan Kendrick, Chairman of ROK said
'LovingEco has done extremely well in the fascinating and rapidly
developing green commerce market. We took the view that acquiring LovingEco
would be far more productive for both parties than on-going competition
between us.'
Part of ROK Global PLC, co-founded by US Billionaire John Paul DeJoria and
UK-based serial entrepreneur Jonathan Kendrick, JP Selects is a
members-only online platform which promotes the best eco-friendly and
sustainable products, brands and companies through flash sales, an online
marketplace and distribution partnerships.
In addition to being the co-founder of ROK, John Paul DeJoria is Chairman
of John Paul Mitchell Systems, the manufacturer of Paul Mitchell hair care
products as well as being the co-founder of Patron Tequila, the world's
leading premium tequila brand and is a renowned humanitarian and social
entrepreneur.
ROK recently announced a partnership with Xiu.com, to launch JP Selects in
China.
Backed by a $100 million investment from KPCB and Warburg Pincus, Xiu.com
is China's biggest online luxury and fashion shopping portal with a mission
to 'Bring the Best of the World to China' and has 1,300 employees with
offices and warehouses in Shenzhen, Beijing, Shanghai and Hong Kong.
Justine Lassoff, co-founder of LovingEco said 'This is an excellent
opportunity for us as JP Selects, and their co-founder and social
entrepreneur John Paul DeJoria, not only share our mission to promote more
eco-friendly and sustainable brands, but with JP Select's turnkey
operations and strong distribution, we can focus on creating the best
consumer experience in the sustainable market.'
Paolo Fidanza, CEO of ROK Global added 'We believe JP Selects is the
fastest growing online eco-conscious retailer in the world with a portfolio
of more than 3,000 sustainable products and we are delighted to have
acquired LovingEco which will further add new brands and products of the
highest quality and to our ever-expanding portfolio even faster than we had
originally anticipated.'
In addition to JP Selects, ROK has pioneered a portodlio of new
technologies and services including high quality mass-market Mobile TV
which can be streamed, live and on-demand, over mass-market 2.5G GPRS as
well as 3G and Wi-Fi, several mobile security technologies which it
licenses to law enforcement agencies, a suite of cutting-edge industrial
technology products and multi-language text-to-speech translation
technologies.
More information:
www.rokglobal.com
www.jpselects.com
www.lovingeco.com
Safe Harbor Statement: The statements contained herein which are not
historical are forward- looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially from
those expressed in the forward- looking statements, including, but not
limited to, certain delays beyond the company's control with respect to
market acceptance of new technologies or products, delays in testing and
evaluation of products, and other risks detailed from time to time.
End of Corporate News
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