SnapAV acquires SunBriteTV with plans to introduce lower prices and free shipping for dealers
Charlotte-based manufacturer SnapAV just announced its first major acquisition since the company launched in 2006. SnapAV has scooped up outdoor television manufacturer SunBriteTV. In line with the acquisition, SunBriteTV’s products will become available through SnapAV before the end of the year, and the company indicated its intentions to introduce some lower prices and free shipping when buying directly from SnapAV.
“Our dealers are doing more and more outdoor systems, and we want to help them grow revenue in those areas,” SnapAV CEO John Heyman said in a statement. “The SunBriteTV lineup will complement SnapAV’s Episode outdoor audio products to provide dealers with a full solution for outdoor living.”
SnapAV said that, unlike “banker-led financial ‘rollups,’” the transaction with SunBriteTV could be characterized similarly to how the company has entered other new product categories. “This acquisition represents a commitment that we’re making to the outdoors,” Heyman said. “While it’s our first major acquisition, it’s really just business as usual in terms of listening to our dealers and taking action based on what they tell us.”
The major change is that SunBriteTV’s products will no longer be available through the residential AV distribution channels that the company had used in the past. Rather, SnapAV will sell their products directly, a move that both companies noted would enable them to offer the product at a reduced price.
“I know that my opportunities to sell more outdoor systems have been growing. SunBriteTV provides a better viewing experience and the safety required of electronic devices exposed to the weather,” dealer Brantley Waits, Elite Audio in Columbia, South Carolina, added. “Now that SnapAV owns the best outdoor TV Company in the industry, I’m going to get the products and support I need to make the most of those opportunities.”