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| Gracious Living Acquires H2O! Recreation - July 16, 2007 |
| July 16, 2007, Gracious Living Corporation acquired the assets of H20 Recreation. |
| Headquartered in Woodbridge, Ontario, Gracious Living was established in 1980 as innovators of plastic garden and patio furniture. Gracious Living is now one of North America's leading manufacturers of plastic home decor and storage solution products. H2O! is a leading edge manufacturer of high quality seasonal leisure and recreational products. |
| Terry J. Watson will head up the H20 division as President and continue to manage the sales and marketing activities of this division. He welcomes the acquisition saying that "it will translate into significant cost synergies and opportunities for cross selling, broadening H20's product range, developing new products and substantially increasing H2O's revenue base." |
| Enzo Macri, President of Gracious Living Corporation, commented on the acquisition saying that "this new venture will diversify our portfolio of consumer products and strengthen our brand name and relationships with the large North American retailers. H2O Recreation and its products are a welcome addition to our product lines and complement the synergies that already exist with our national and international customer base." |
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