Flamemaster, PerfectData to Buy El Guapo Stake
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Sun Valley-based Flamemaster Corp., and PerfectData Corp., of Simi Valley, are acquiring an 8% equity stake in El Guapo Spices of Los Angeles.
The two companies are part of a larger group that will provide $750,000 in the form of a secured loan agreement.
The joint venture will help El Guapo expand its Internet market presence. Flamemaster and PerfectData are seeking a greater Internet presence through joint ventures and by acquiring stakes in companies offering Internet retailing and content.
Flamemaster, which makes specialty chemicals and adhesives--and owns just under 20% of PerfectData--posted a nearly 20% gain in earnings for the nine months that ended June 30.
PerfectData, which designs computer, office care and maintenance products, reported a $72,000 loss for the period ended June 30.
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