Houston, TX, December 17, 2010 --(PR.com
)-- Paty, Inc., founded in 1955, was sold by sisters, Ruth and Faride Abugattas, to local Houston entrepreneurs, Derrick and Caren Veillon. The company, headquartered in Houston, manufactures baby clothing and distributes its products to specialty stores throughout the United States.
After 55 years of managing daily operations of the manufacturing facility, the Abugattas sisters wanted to retire and travel. They retained Rosario Romero-Franco, a broker with Certified Business Brokers in Houston, to represent and assist them during the entire sale process.
Paty, Inc was very attractive to buyers due to its long history and consistent revenues. After receiving three offers in one week, the Abugattas decided that the Veillons, a very entrepreneurial couple, were the best candidates to take their business to the next level.
Paty, Inc was established in 1955 in Lima, Peru, by Faride and Ruth Abugattas. In 1972 due to the bad political and social environment in Peru, they moved the company to Houston. The company designs and manufactures high-quality baby clothing that is 100% made-in-the-USA, is in high-demand, and is sold by specialty stores throughout the United States.
Ruth Abugattas said, “We are very excited about beginning our retirement after all these years. Rosario was such a help to us and made our dream come true.”
Derrick Veillon said, “We had been looking for a business for more than a year. We feel fortunate and proud to be taking ownership of this fine firm. We will absorb the half century of experience from the Abugattas sisters and will build upon it.”
The Verillons have big plans for the company. “The brand name and quality of the product made the company very profitable. There remains tremendous potential with proper implementation of new processes and methods, since the sisters maintained internal accounting through handwritten books and did not have integrated operating systems or inventory controls. We also plan on incorporating brand recognition with the history of the Abugattas sisters in a new strategic marketing campaign and internet presence,” said Derrick Veillon.
CBB provided valuation and marketing services and represented the seller in the sale. Rosario Romero-Franco handled the details of the transaction.
About Certified Business Brokers (CBB):
Certified Business Brokers, headquartered in Houston, is Texas' largest business brokerage firm. CBB is a founding member of the International Business Brokers Association (IBBA) and the Texas Association of Business Brokers (TABB). They are also members of Association for Corporate Growth (ACG) and M&A Source. They are specialists in Business Brokerage, Mergers and Acquisitions, and Business Valuations and Appraisals.