MagicTan, Mystic Tan Merger Announced

Two leading innovators of sunless tanning equipment and products, MagicTan Corp.—manufacturer of the VersaSpa skincare system—and Mystic Tan—manufacturer of the MyMyst system—announce that they will join together to become one entity. The new organization will be called MT Industries Inc. (MTI).

“Combining our resources—including the assets (financial and human resources) and experience (engineering, design, research and development)—will result in a company with the means to produce more cutting-edge products and an expanded marketing budget to reach more consumers,” said Scott Thomason, president and CEO of the joint company. “Ultimately, our intention and No. 1 priority is to promote sunless tanning to consumers on a global scale and drive more users to our customers’ locations.”

The leadership structure for the new organization will include:

• Scott Thomason, President and CEO (formerly of MagicTan)
• George Carriker, Vice Chairman and COO (formerly of MagicTan)
• Ben Hinterlong, Chairman of the Board (formerly of Mystic Tan)
• David Block, Chief Financial Officer and Vice President of Finance (formerly of Mystic Tan)
• Kip Cooper, Vice President of Manufacturing and Service (formerly of MagicTan)
• Tim Hicks, Senior Vice President of Sales for the Mystic Tan Brand (formerly of Mystic Tan)
• Mark DeMayo, Senior Vice President of Sales for the VersaSpa by MagicTan Brand (formerly of MagicTan)
• Kimberley Carrasco, Vice President of Customer Support (formerly of MagicTan)

Both brands will retain their individual features and identities. Marketing, engineering and sales departments will remain separate, while the manufacturing, shipping and administration will be combined to increase operational efficiency.

“We are committed to honoring the loyalty of our customers with unprecedented customer service and we will continue to provide support dedicated to the owners’ specific brand,” Thomason adds. “Neither brand is more superior to the other; both have proven their stability in the industry. We just want to make sunless tanning even more popular than it already is.”

The companies also note that, by combining their resources and expertise, they are able to accomplish several objectives:

• Ensure that automated sunless tanning will remain a strong and healthy segment despite the rough economy.
• Create a stronger platform on which we can gain additional market share, which benefits customers (currently, the automated sunless tanning market only represents a fraction of the $230 million sunless industry).
• Develop even more cutting-edge products and equipment that meet the changing needs of sunless tanners.
• Gain operational efficiencies that free up resources for additional product development, marketing and customer-service initiatives.

For more information regarding the merger, check out the “MagicTan and Mystic Tan Merger Q&A.”

Source:

PR Newswire: MagicTan Corp. And Mystic Tan Merge