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NATIONAL THOROUGHBRED RACING ASSOCIATION ACQUIRES EQUISOURCE; FORMS NEW SUBSIDIARY
The National Thoroughbred Racing Association (NTRA) today concluded its acquisition of EquiSource in conjunction with the formation of a new group purchasing subsidiary, NTRA Purchasing, which will offer substantial savings on products and services from John Deere, Penske Auto Centers, Sherwin-Williams Paints, IKON Office Solutions, Boise Cascade Office Products, Kimberly-Clark, Hallway Feeds and others to NTRA supporters. NTRA Purchasing will be based at the NTRA's headquarters in Lexington, Ky., with field representatives in four geographic regions.
EquiSource, formed in 1997 by UniStar and Churchill Downs Investment Corp., delivered cost reduction and efficiencies to NTRA member racetracks, farms and veterinary groups by aggregating the purchasing power of NTRA members to negotiate national supply agreements with leading suppliers of materials and services.
"Delivering member benefits in the form of cost savings through group purchasing has always been one of the NTRA's core objectives," said Greg Avioli, NTRA deputy commissioner and COO. "The formation of NTRA Purchasing enables us to enhance that service, with the added benefit that a much larger share of members' purchases will now directly fund the NTRA's programs to grow the horseracing industry."
"This is a good deal for all parties involved, including EquiSource customers and their preferred suppliers of products and services," said Miles Lee, CEO of UniStar. Under the terms of the transaction, UniStar will continue to provide group purchasing services to NTRA Purchasing.
The executive director of NTRA Purchasing is Joe Morris, former John Deere national account manager for EquiSource. "At the outset, NTRA Purchasing will focus on a small number of key products that meet the daily needs of NTRA supporters and offer opportunities for repeat and multiple purchases," said Morris. "John Deere, Sherwin-Williams and Hallway Feeds offer products that are especially useful for farms and racetracks, while Penske, IKON, Boise Cascade and Kimberly-Clark can help meet the daily business needs of virtually every NTRA supporter."
John Deere is the title sponsor of the $2 million John Deere Breeders' Cup Turf and its associated Turf racing division and is the presenting sponsor of the $1.5 million Great State Challenge, which debuts in 2002. Penske Auto Centers is the title sponsor of the $1 million Penske Auto Centers Breeders' Cup Sprint and the Sprint racing division.
Morris and other NTRA Purchasing representatives will meet with farm managers, horsemen and racetrack officials during the first quarter of 2002 to solicit their input on products and services that may be added to the roster of those currently offered by NTRA Purchasing. For more information on products and services available through NTRA Purchasing call (866) 678-4289.
Information on NTRA Purchasing's corporate partners appears below:
Penske Auto Centers
IKON Office Solutions
Boise Cascade Office Supplies
The NTRA is a broad-based coalition of horseracing interests, including the American Quarter Horse Association, charged with increasing popularity of horseracing and improving economic conditions for industry participants. The NTRA and Breeders' Cup Limited also conduct the Breeders' Cup World Thoroughbred Championships, Thoroughbred racing's year-end Championships consisting of eight races and $13 million in purses and awards, and the Breeders' Cup Stakes Program, both of which are funded by the industry's owners and breeders. The NTRA has offices in Lexington, Ky., and New York City. NTRA press releases appear on the NTRA Web site, www.ntra.com, and at the Web site for the Breeders' Cup World Thoroughbred Championships, breederscup.com. Contact the NTRA at email@example.com.
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