Adrenalina Says It Will Pursue A West 49 Takeover

mike lewis

• June 24 2009
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Photo: West 49

Just days after Canadian action sports retailer West 49’s CEO Sam Baio told shareholders that Adrenalina’s bid to take over the company appeared to be dead, Adrenalina’s CEO fired back that he’s still on the hunt.

According to an article by The Canadian Press: Ilia Lekach, CEO of Florida-based Adrenalina Inc., says he plans to submit another bid to West 49’s management before Christmas.

“Right now I’m in the middle of another acquisition,” said Mr. Lekach, who put forth the offer two months ago.

“I’m going to wait until I finish it, and then I’m going to go back to West 49.”

Lekach’s statements came in response to Sam Baio’s comments to shareholders at the West 49’s annual meeting that he never heard back from Adrenalina after it put forward an inital offer, valued at $35 million, in May, which West 49 immediately rebuked.

There is no word what the other deal that Lekach mentions is, but rumors are circulating that it may have something to do with the Florida-based limited liability company called Active Sports Lifestyles which recently entered a winning bid of $5.2 million to purchase Active Ride Shop in an auction ordered by the US Bankruptcy Court in Riverside, California.