Money4Gold Holdings, Inc. announced on Friday that they signed a Letter of Intent to acquire Kansas City, Missouri-based Office Products Recycling Associates (OPRA). The companies said that this proposed acquisition would move the combined company forward faster than either company could have developed new products and sales channels on their own.
Office Products Recycling Associates is a 15-year-old recycler of cell phones, smart phones, inkjet printer cartridges, and toners. They have an extensive business-to-business (B2B) model as well as consumer model. This will increase Money4Gold’s customer, channel, and product footprint.
Doug Feirstein, MFGD’s Chief Executive Officer, said, “Pursuing this acquisition is one of the aggressive actions we are taking, in light of the recent volatility and softness in our traditional precious metals/direct response business.”
Tom Cameron, founder and CEO of OPRA, commented, “I am excited about the opportunities for our merged companies, and am looking forward to working together as a member of the combined team. OPRA has been growing revenue and profitability on its own, but we believe this combination will create opportunity for accelerated growth, and we look forward to entering new markets and channels as a stronger player in the quarters to come.”
In addition, MFGD disclosed that they intend to change their name to Upstream Worldwide, Inc. as soon as possible. The Company has already received shareholder approval and needs to clear the name change with FINRA.
Headquartered in Ft. Lauderdale, Florida, Money4Gold Holdings, Inc. is a direct-from-consumer reverse logistics company. They currently specialize in the procurement of precious metals and use direct-to-consumer advertising to solicit individuals interested in liquidating unwanted items. Money4Gold’s consumer websites include www.sobredeoro.com, www.Dollars4Gold.ca, www.MyGoldEnvelope.com, www.money4golduk.com, and www.eurofuergold.de. With these websites, the Company works to provide the most convenient, efficient, and secure method for individuals to liquidate and recycle items containing precious metals.