Monday, May 9, 2016

Acquisition of Canadian Karoleena Homes by Horizon North Logistics Inc.

Karoleena, the award-winning designer prefab home building company based in Okanagan Falls, British Columbia , is thrilled to announce its acquisition by Horizon North Logistics Inc. ("Horizon North") (TSX:HNL).

The acquisition of Karoleena Homes by Horizon North Logistics is a strategic move expected to accelerate growth of modern modular opportunities throughout Western Canada.

"We have worked tirelessly and are very proud of what we've been able to accomplish with Karoleena.  We have pioneered in the industry and this decision was an easy one, because we are confident it will allow Karoleena to reach its full potential." said Kurt Goodjohn , Co-Founder and CMO of Karoleena.

Preliminary objectives for the combined companies include the development and implementation of a full line of Designer Prefab structures including homes, multi-family residential, retail and commercial buildings to serve the growing need for a viable alternative to site construction.

"We had set out a plan for Karoleena which included the goal to become saleable and scaleable by 2016, and this transaction signals not only the fulfillment of that plan but is also the catalyst to truly achieve scalability and continued market leadership." said James Rosowsky , CEO.

CLICK HERE to read the entire Yahoo Finance article

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