Thursday, January 10

Black Box Acquires Zero

Press Release

Tod Swank / Tum Yeto, Inc. and Jamie Thomas / Black Box Dist. have signed an agreement where as Black Box will acquire the full rights of Zero Skateboards. The agreement stems from the basic drive of entrepreneurship that is common from participants of the skateboarding world. Jamie is ambitious, driving and successful. Tod is accommodating and open to the growth of the industry in a positive manner. “I think this is an monumental agreement in skateboarding. Usually rider’s that have aspiring ambitious just leave companies and a wake of chaos to not just to a former company but so many others,” states Tod. Jamie and Tod were both very interested in creating an agreement that was positive and essentially seamless for all parties involved including but not limited to: retail and distributor accounts, vendors, team riders and the employees of both entities. To create a transfer that had a minimum negative impact on all parties involved. Months were spent developing an agreement that accommodates everyone involved. “We want to keep the brand’s integrity from being damaged in any way due to the acquisition,” Jamie says.

The agreement details a time phased, criteria completion transfer of production and sales to the Black Box entity from Tum Yeto. Tum Yeto will continue to manufacture and distribute Zero as a back up to Black Box and insure the availability of goods to our customers. The transfer starts this spring with Black Box taking on several international accounts. USA Domestic wholesale sales will continue through Tum Yeto until a further date which will be announced in an appropriate timely fashion. Do not expect any significant changes that will effect your business in the near future. Based on the structure of the agreement all channels of manufacturing and distribution will stay the same until the criteria of the full completion and execution of the agreement between Jamie and Tod are met. The agreements criteria is revenue driven rather than date driven which makes hard dates ineffective at this time. Only when this agreement has reached it’s maturity and been realized, Zero will become under full control of Jamie and Black Box. At this time there will be NO changes in distributors both domestic and internationally, retailers and vendors until further notice.

Again, the creation of this agreement was to insure a positive transfer of Zero from Tum Yeto to Black Box. We hope to have your support, understanding and motivation. Please fell free to contact Jamie or Tod if you have any concerns or questions.