Cigarette Racing Team Acquisition Of Doug Wright Designs Off The Table
 

Months in the making, Cigarette Racing Team’s acquisition of Doug Wright Designs will not move forward, https://www.speedonthewater.com/ciga...off-the-table/

Interesting that they would have done a press release based on a letter of intent. Any business owner who’s been doing it long enough knows those are rarely worth the paper they are written on. Money is counted after its in the bank.

Either way, hopefully this is good news for PBC and DW customers

I wonder if DW didn’t like the Cig deal going to BTM and DW still having a good relationship with PBC?

Notice how many times Ruiz says "I", where most successful companies are built on "we".

In other news, Ruiz can now concentrate an the new Cigarette skateboard company that he is building to revolutionize skateboarding. Well, actually he is just going to put new Cig stickers on them, but he did design the sticker!

​​​​​​“Thus far, we have increased the revenue and size of the company by at least four times"

Uh...ok. I want to feel good about the brand but something just smells.

I own a Merger and Acquistion firm and in 35 years I have never witnessed public announcements of a sale prior to the contract being executed and money in the bank on a deal this size. Very odd. Just a Letter of Intent is not deal. Someone was getting poor advice.

nah they have the 22 yo CEO wheelin n dealin

all part of the master plan

The whole thing was weird. They (cigarette representatives) were acting as if they had written the check and telling Doug to make internal changes for the past few weeks. Doug, Doug Jr., and all of their customers are in a much better place now-no need to go into any more details here.

Joe

Didn’t they already have a bunch ordered from someone ? How does that work now ?

Here is another way of looking at it? (pure speculation and just a working theory)

Is it possible this was a "bigger picture" corporate move to make another party take the offer they had made, and after being brought to the realization BIG changes can happen, brought/required a much better offer?

It is reported Cigarette also bought Vector Works which is the other major mold maker in the industry. So getting the molds etc they need to make the cats they have under contract should not be an issue.

Big Boy games...

I think those that think one person in this Corporate structure makes all the decisions are sadly misguided... Time will tell how everything will shake out, but I hope for the best for everyone...