The transaction values the combined entity at an enterprise value of approximately $507.1 million, with up to approximately $117.5 million in net cash to fund growth. Contact Us! Candles that embody the fine art of hospitality. Mayfield is on the western edge of Kentucky. This press release includes forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Join the 520.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: This category only includes cookies that ensures basic functionalities and security features of the website. It's cars from the parking lot that is on top of it,"Beshear said during a press conference. We believe that Ascense Brands will become a market leader in the US air care private label space with approximately 35% market share and strong growth potential.. Andy Beshear called it miraculous that more people weren't found dead amidthe smashed and splintered remains of the factory at 112 Industrial Drive -- wreckage he described as nothing he'd ever seen. You also have the option to opt-out of these cookies. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. Kentucky Gov. GetDirections. The description of the transactions contained herein is only a summary and is qualified in its entirety by reference to the business combination agreements relating to the transactions, copies of which will be filed by GACQ with the SEC as exhibits to a Current Report on Form 8-K. GP Globals primary assets are controlling stakes in MVP Group International, Inc. and Primacy Industries Ltd, two leading Air Care solution companies based out of the U.S. and India, respectively. Founder of Colonial Candle. Thereafter, in 2017,. Neither MVP Group nor any of its products are affiliated with ATOSA USA, Inc. or its products. 351 were here. He started his business, originally named Emery Lard Oil and Candle Company, in Cincinnati, Ohio. Lost and so confused. Survivors of tornado in Bowling Green face trauma amid recovery. One of the companies involved in the SPAC merger - GP Global's MVP Group - currently counts Colonial Candle among its customers. In 2000, MVP Group International moved its headquarters from Mayfield to Charleston, S.C., where Mary V. Propes had taken up residence. Make the highest quality candles and soaps for the best price! -Carolina Candles Western Kentucky native Mary V. Propes, now 69, decades ago founded MVP Group International. GP Global, Luminex and their directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of GACQ in connection with the proposed business combination. The Bath&Body Works team is devastated by the horrible loss of life at the Mayfield Consumer Products factory a long-standing partner of ours in Friday nights tornadoes in Mayfield, Ky., and the surrounding areas," the company said in a statement. The Yankee Candle Company. Tornado hits Mayfield candle factory: How many people died In 1973, the companion company called PartyLite was formed to empower women who aspired to earn their own money. Mayfield Consumer Products LLC made candles, candle accessories and home fragrance products inside its factory at 112 Industrial Drive in Mayfield. Graves County Jail inmates working at theMayfield Consumer Products is relatively new. Two companies that specialise in manufacturing candles have entered into a business combination agreement with a publicly traded special purpose acquisition company. The afternoon shift began at 5 p.m. Mandatory overtime will be required frequently, either by extending your shift or working on Friday, the company told potential job applicants. MVP Candle Factory locations 3.3 Mayfield, KY 3.0 Elkin, NC 4.0 Union City, TN Show all locations What's being discussed at MVP Candle Factory? Under the terms of the business combination agreements, GACQ will acquire all of the issued and outstanding equity securities of each of GP Global and Luminex. It is the world's largest manufacturer of private label scented candles with additional presence in contract manufacturing and also owns premium branded candles. As of Sunday afternoon, it appeared the company deleted its Facebook page and changed its website. More than 90 have now been accounted for, Ferguson said. Please visit www.mvpbrands.com You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. GACQs, GP Globals, and Luminexs actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. "They had some prisoners working there from the Graves County Jail," she told The TODAY Show. SC owner of Ky. candle plant where tornado killed 8 faces questions and These cookies do not store any personal information. Share your experience to help others. The SPAC merger deal, which is expected to close in early 2022, has been unanimously approved by the boards of directors of GACQ, GP Global, and Luminex. MVP Group International, Inc. is a global leader in home fragrance. MVP GROUP INTERNATIONAL (90 orders) US NONWOVENS CORPORATION (77 orders) OLD WILLIAMSBURGH CANDLE CORP (62 orders) ARDEX COSMETICS OF AMERICA (46 orders) EMPIRE CANDLE LLC (38 orders) 4.6 / 5. We also use third-party cookies that help us analyze and understand how you use this website. the companies estimated the enterprise value of the combined entity will be $507.1m (374m). Sandalwood and Black Cardamom Fragrance Oil, Moonlight Rose and Labdanum Fragrance Oil. Western Kentucky native Mary V. Propes, now 69, decades ago founded MVP Group International. Our similar businesses nearby shows similar businesses in their industry and region based on information found in their Dun & Bradstreet Credibility Review profile. The size of the potential loss is limited to the funds held by us for and on your behalf, in relation to your trading account. It was renamed Candle-lite and manufacturing was relocated to Leesburg, Ohio, where the company began experimenting with adding scents to candles, a trend that would rise in popularity among consumers in the 1980s. Search for other Candles-Wholesale & Manufacturers in Elkin on The Real Yellow Pages. He also told the outlet thatthe program was approved by the Kentucky Department of Corrections to help mitigate recidivism. Matt Bevin said in the news release. ", During an interview on TheTODAY Show Saturday morning, Parsons-Perez said"I did not think I was going to make it at all I was so scared. It's pretty awful to witness. Global Consumer Acquisition (GASQ) intends to merge with GP Global and Luminex Home Dcor and Fragrance. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement pertaining to the proposed business combination when it becomes available. Candles Home Decor Furniture Stores. How the overnight tornado storm compares to Kentuckys deadliest outbreaks, Rubble from overnight tornado in Mayfield, Bowling Green residents left to clean up damages after an overnight tornado, Path of Kentucky tornado: Deadly storm potentially broke this 96-year-old record, At least two dead after Amazon warehouse in Edwardsville collapses during storm, Aerial video of Mayfield destruction caused by tornado. 2023 BridgeTower Media. The companys production and distribution facility in Elkin currently employs 104 people.The company also plans to invest $10.6 million over the next three years in Elkin. Aerial views of the Mayfield Consumer Products facility, often referred to as the "candle factory," show the damage to the area that trapped workers. Enter your email to stay updated with new launches and offers. Pro Candle Supply - Candle and Soap Making Supplies -Colonial Candle Company The Mayfield candle factory in Kentucky was the focal point of destruction in a town annihilated by the massive twister, which cut a deadly swath through multiple states, killing, the governor. Global Consumer Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. And yet, this storm proved differently.. Beshear's office says MVP is the largest manufacturer worldwide of private label candles and home fragrance goods. Jack Harlow name-drops Beshear. Careers - Mayfield Consumer Products The combined entity has a forecast 2022 revenue of approximately $553m. Live updates: Recovery from Kentucky tornadoes is going to be a very long process, A demand for workers, $8 hourly wage: What we know about the Mayfield candle factory.